The Edge® Records Best-Ever Result

5 November 2004

The Edge® Records Best-Ever Result

$0.806 Million Dividend Returned to Auckland City

Chief Executive Celebrates 10 Years at the Helm

AUCKLAND, November 4, 2004— The Chairman of the Aotea Centre Board of Management, David Wolfenden announced today that THE EDGE® has recorded its best-ever annual result and has returned a dividend of $0.806 million to Auckland City Council.

Mr Wolfenden said, “THE EDGE® has more than fulfilled its mission this year, out-performing targets in all three areas of business: Arts Agenda, Commercial Entertainment and MICE (Meetings, Incentives, Conventions and Exhibitions). Revenue is up, attendances are up, the number of performances is up, the number of delegate days is up, and the number participating in our Community Arts Programme is up.

“Our net financial result is very positive,” continued Mr Wolfenden. “We have performed better than budget, turning over $17.9 million this financial year and achieving an $.806 million trading surplus. Having received a $3.7 million grant from Council for the express purpose of delivering on Council’s Arts Agenda policy objectives, it is very pleasing to be able to return a surplus of $0.806 million, an increase on the $0.5 million we returned to Council last year. THE EDGE® continues to be a significant asset for all residents and ratepayers of the Auckland region.”

“It has been a magnificent year and the future for THE EDGE® is extremely positive as it continues to compete strongly at every level to retain its share of the market in each of our business sectors. We can confidently expect to continue to be New Zealand’s best, in any event,” said Mr Wolfenden.

THE EDGE® Chief Executive Greg Innes, who recently celebrated his 10th year at the helm making him Australasia’s longest-serving performing arts chief executive, is extremely pleased with the company’s performance. “We have come a long way in the past decade.

With excellent relations in place with Auckland City Council, good governance at Board level and an efficiency-conscious culture operating throughout the organisation, the screaming headlines about the Aotea Centre that that were common ten years ago have been replaced a growing recognition in the community of what it is that we do well. And what we do well is events – a lot of them.

“This year THE EDGE® staged nearly 1,500 performances, conventions and events at its four venues, and 1.47 million people attended these events – more than the entire population of Auckland and more than the Sydney Opera House recorded last year. After ten years of hard work by all, I can honestly say there is plenty to be proud of and plenty more yet to be achieved,” said Mr Innes.

ENDS

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