Omarama Airfield Ltd, which released its annual report for the 2017-18 financial year last week, was formed in 1993 to develop and operate the Waitaki Valley airfield it owns, on behalf of its primary shareholders the Waitaki District Council and Omarama Soaring Centre Ltd.
The report said the airfield was well utilised throughout the year and hosted the South Island Regional Gliding Championships, the New Zealand youth glide national training camp, several model flying competitions and other aviation events.
In all, more than 1500 people used the airfield throughout the year.
That included glider pilots from New Zealand and overseas, which had boosted the airfield's profile and benefitted the Omarama economy.
The company posted a modest after-tax surplus of $9652 for the year to June 30, slightly below the corresponding year's profit of $10,162.
Revenue was reported as $141,847 and expenses were $124,318.
The company's assets total $1.125million and its equity sits at $1.389million.
The report said the company would continue to adjust its business plan accordingly in consultation with interested parties as it identified opportunities to grow the business.
``The company's business plan is updated annually and evolves to reflect the outcomes of the consultation workshops involving recreational aviation stakeholders, users and the local community. Longer-term planning is also directed by outcomes of the consultation.''
