The Clutha Licensing Trust may have reported a small trading loss for 2008 last week but it only reflected the massive investment it has made around the district this year, its bosses say.
Despite the pre-tax loss of $40,068 for the year ending March 31, 2008, compared with a $187,000 surplus the previous year, the trust managed to increase its sales revenue. The major difference was a $547,590 allowance for depreciation, due to an extensive capital works programme.
The figures were presented at its annual meeting on September 4.
The trust also launched a new logo and slogan "Your Trust - Publicly Owned" which trust president Malcolm McElrea said was its attempt to show the South Otago community owns the business, and with its continued patronage and support, it will strive to deliver improved licensed premises.
Several major improvements have been carried out around the district recently and improvements are soon to start at the Rosebank Lodge Sports Bar which was "long overdue for a face-lift."
"Without your custom at these and all of our premises, we may struggle to continue to put in place further development programmes," Mr McElrea said.
Trust general manager David Kenny said it was pleasing to report revenue growth, especially with the cost of doing business increasing all the time.
He was comfortable with the minor deficit because it reflected the amount of money spent on improving premises.
"It is pleasing to see the results that are starting to flow from these properties due to the investment towards them and from the positive management within them."
The trust's financial statements show 2008 sales revenue reached $9.81 million compared to the 2007 figure of $9.13 million while other income was almost identical at about $558,000.
It confirmed the trust's Charitable Foundation distributed $290,745 in grants to South Otago community groups in the last financial year. The largest single grant was $25,000 to the Balclutha Golf Club.
