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Financial Success at THE EDGE®

Financial Success at THE EDGE®

A successful year for THE EDGE® has resulted in a $500,000 windfall for Auckland City ratepayers.

Careful attention to cost control and prudent risk management of show investments meant THE EDGE® financial result for the 2002/2003 financial year was $1 million better than the previous year. As a result, THE EDGE® has returned $508,000 to Auckland City Council.

THE EDGE® chief executive Greg Innes says the 2002/2003 year was highly challenging, “but ultimately it has been very rewarding.

“It is fantastic to be able to put the disappointing result of the previous year well behind us and move forward.”

THE EDGE®, which comprises the Aotea Centre, The Civic, Auckland Town Hall and Aotea Square ended its 2002/2003 financial year on 30 June 2003 and has recently released its financial and organisational performance in its annual report.

In 2002/2003, the commercial entertainment played a major role in the overall financial success of THE EDGE®.

“A strong New Zealand dollar has made it more attractive for shows touring to Australia to come to New Zealand,” Mr Innes says.

This financial year THE EDGE® is presenting a number of major productions including Sydney Dance Company’s Ellipse which played in September in The Civic and resulted in a profit for THE EDGE®, Canada’s Daredevil Opera Company production Cirkus Inferno at The Civic in November, and Opus Cactus from American dance theatre company Momix in the ASB Theatre, Aotea Centre in February.

“We’re very positive about the 2003/2004 year. We’re very excited about MAMMA MIA! which opens in March 2004 and about the upgrade of the convention facilities in the Aotea Centre which will return us to the forefront of the conventions industry in New Zealand.”

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