2 7
Tainui Group Holdings
Annual Report
2012
Rental income
Hotel income
Other income
Quota leasing income
Dividends from listed investments
Sale of sections
Revenue
2012 (outer circle): $55.3 million
2011 (inner circle): $34.7 million
71
%
26
%
10
%
5
%
9
%
5
%
7
%
5
%
2
%
3
%
57
%
expenditure
2012 (outer circle): $22.1 million
2011 (inner circle): $12.3 million
Direct costs from investment properties
Employee costs
Cost of sales
Other expenses
Consultancy fees
Depreciation and amortisation expenses
30
%
26
%
17
%
13
%
4
%
10
%
34
%
3
%
8
%
12
%
12
%
31
%
Net operating profit
movement
The net operating proft movement
graph shows the change between 2011
and 2012. Novotel Auckland Airport
hotel transactions and increased
rental income from
esulted
in increases in both total revenue
and operating expenses from 2011.
Finance costs are now recognised
in the operating results since major
capital projects are now completed.
The transactions from completed
developments are now fowing through,
improving the operating proft.
Revenue
Income from the Novotel Auckland
Airport hotel is evident in 2012,
representing 26% of the total revenue.
Rental income from
s now
being received for a full year on stages
1 and 2 tenancies, and a partial year
on stages 3 and 4 tenancies. Fewer
residential section sales were realised
in 2012 as market conditions remained
fat and the stock on hand diminished.
With fshing, the quota market has seen a
decline in catch capacity and an increase
in the total allowable catch for some
key species. Combined, these have
reduced the need for major companies
to purchase third party quota and, as a
result, quota income has dipped in 2012.
Other income includes dairy revenue
and higher livestock values.
Expenditure
Expenditure has been infuenced
by costs associated with the Novotel
Auckland Airport hotel and
.
Movement between 2011 and 2012
in employee costs, costs of sales and
depreciation are a factor of the Novotel
Auckland Airport hotel now being
included in 2012.
Top Ten Suppliers
by Spend in 2012
Construction Services
Hawkins Construction Limited
Construction Services
Sam Pemberton Civil Limited
Construction Services
Hamilton City Council
Local Government Services
Project Management Services
Architectual Services
ISS Facility Services Limited
Cleaning Services
Schick Construction & Cartage Limited
Construction Services
Auckland City Council
Local Government Services
Consultancy Services
financial overVIEW
0
5
10
15
20
25
30
35
40
Net operating profit movement
$M
14.5
20.7
20.6 (9.7)
(5.1)
0.4