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Auckland Council Group releases financial result

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Auckland Council Group releases financial result

By: Natasha Burling | Business News | Friday August 31 2012 15:18

 

The Auckland Council Group has released its first full 12 month financial result to the NZX.

The group includes the seven council-controlled organisations that deliver services and facilities.

There was a surplus of $278 million in the year ended June 30, which includes the revaluation of property, plant and equipment.

Before income was taken into account, there was an after tax deficit of $233 million.

$167 million of that was lost from the impact of falling interest rates on the value of borrowing.

Photo: NZ Herald

 

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