Financial Statements and Related Announcement::Full Yearly Results

Issuer & Securities

Issuer/ Manager
AUCKLAND COUNCIL
Securities
AUCKLAND COU NOK1.4B 4%N280909 - XS0964196603 - 2ZFB
AUCKLANDCOEU185M 2.125%N340324 - XS1045821847 - 3E4B
Stapled Security
No

Announcement Details

Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
29-Aug-2014 06:06:41
Status
New
Announcement Sub Title
Full Yearly Results
Announcement Reference
SG140829OTHRUXXX
Submitted By (Co./ Ind. Name)
Andrew John
Designation
Funding Manager
Effective Date and Time of the event
29/08/2014 17:00:00
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
Media release
29 August 2014

Auckland Council Group finances go
from strength to strength

It has been another year of good financial performance for the Auckland Council Group which reported its unaudited preliminary financial results today.

During the year the group s credit ratings were reaffirmed by both Standard & Poor s and Moody s and the group has achieved results better than budget. This provides a strong base for planning the next ten years.

The group is reporting an operating surplus of $150 million compared to a $38 million budgeted deficit
Total borrowings are below budgeted levels
Savings targets were achieved and the organisation has increased its expected annual savings targets for future years

The group continues its transformation focused on delivering services with better value for money.

This year the group invested $1.6 billion renewing and expanding assets to its growing Auckland communities. The capital programme delivered local community facilities and parks, and local and regional infrastructure and transport. This work contributed to a boost in the value of the group s total assets from $37 billion to $40 billion.

Aucklanders can have confidence that we are continuing to invest in our city whilst delivering the services they value. says Auckland Council Chief Executive Stephen Town.

A copy of the results is available on the council s website: www.aucklandcouncil.govt.nz/annualreport

Ends
For media assistance, please contact:
Glyn Walters, Manager Media Relations, +64 21 278 6858

Additional Details

For Financial Period Ended
30/06/2014

Attachments

Press release August 2014.pdf
2014 NXZ Prelim Announcement.pdf
Total size =229K