ILT sales increase

The Invercargill Licensing Trust is cautiously celebrating an increase in its sales for the first time since the nationwide Covid-19 lockdown.

The October numbers were presented by ILT chief executive Chris Ramsay at a board meeting yesterday.

However, despite the 9.2% profit increase, the numbers would not be enough to turn the year around, he said.

The trust recorded a profit before tax of $830,000 for October.

Mr Ramsay said yesterday this meant a 5.7% increase in total sales, compared with the same month last year.

A big part of the good result was due to off-premise bottle store businesses and profit from the ILT’s bars and restaurants, he said.

Accommodation was tracking "far behind" — and would remain that way until the country opened its borders, he said.

Mr Ramsay said the trust lost about $7million in sales during the lockdown period, making its year-to-date profit $65,000 lower than last year’s result.

"However, we are happy with the way we are performing, given the challenges every business is facing."


Add a Comment






Our journalists are your neighbours

We are the South's eyes and ears in crucial council meetings, at court hearings, on the sidelines of sporting events and on the frontline of breaking news.

As our region faces uncharted waters in the wake of a global pandemic, Otago Daily Times continues to bring you local stories that matter.

We employ local journalists and photographers to tell your stories, as other outlets cut local coverage in favour of stories told out of Auckland, Wellington and Christchurch.

You can help us continue to bring you local news you can trust by becoming a supporter.

Become a Supporter