Omarama Airfield has turned in a small profit this year, less than in the previous year, after lower income and higher expenses.
Omarama Airfield Ltd in its 2011-12 annual report recorded a $4909 operating profit, compared with $23,484 the previous financial year.
That was achieved on lower income of $106,602 (compared with $115,506 in the previous financial year) and higher operating expenses of $101,694 ($92,023 in 2010-11).
Company chairman Hugh Cameron told joint shareholder the Waitaki District Council that it was anticipated the airfield would continue to operate satisfactorily.
The company, equally owned by the council and Omarama Soaring Centre, gets its main income from gliding operations, accommodation and hangars.
In the past financial year, landing fees at $25,356 were similar to the 2010-11 year, but turnover fell substantially to $38,509 from $47,846, with other income remaining stable.
Minor increases across all items contributed to the higher expenditure, with repairs and maintenance and subcontractors/wages showing the biggest rises.
