ILT makes $110m with $9m donated

Photo: ODT files
Photo: ODT files
The liquor is still flowing down south, as is the giving.

ILT has reported in its latest agenda that in the last financial year to March 31, the company had total sales valued at $110,411,270, which was a record for the organisation.

It was 4% up on last year.

The increased income also worked its way through to donations with more than $9 million being granted in the past financial year — the best for more than a decade.

All of the increase came in the first half of the financial year. Revenues flattened the further the year went on as Covid restrictions had phased out and increasing cost pressures emerged.

Large events such as field days and events had seen the effects of inflation and the cost-of-living crisis realised in our revenues.

There was also an extra day on February 29 to add to sales.

ILT chief executive Chris Ramsay said it was pleasing to get such a good result but most of the profit had come from the first six months of the year.

January of this year had been slow but there had been good bounceback in February and March, built around event activity.

Business was not back to pre-Covid levels yet and the business was looking at trading efficiently and cutting its cloth to fit in the coming months.

The business had 23 trading operations though the Langlands Hotel had in essence six outlets with a restaurant, cafe, three bars and the hotel, which expanded sales.

The Langlands was trading to expectations. He warned that tough times were ahead as mortgage interest rises coupled with price increases was putting a brake on spending.

Donations had reached more than $9 million which was the best for more than a decade, Mr Ramsay said.

"We are incredibly proud to hit this total post-Covid. It reflects our unwavering commitment to our community, which lies at the heart of everything we do," he said.

"All the hard work done by the staff, who have gone the extra mile, has helped us reach this level."

Total Donations were made up of $3.3m from ILT and $5.84m from the ILT Foundation bringing a total of $9.14m.

The funding has supported a diverse range of community initiatives, including $1m to the Museum redevelopment – Project 2025, the learn to swim programme, Southland Charity Hospital, Age Concern, and Recycle South.

Donations were up about 10% on last year.

He felt people appreciated the money donated and the worth of the trust.

Drinking habits had not changed greatly but consumers were looking at more favourably priced options when deciding on a drink in recent times.