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City Care Achieves Pleasing Annual Result

City Care Achieves Pleasing Annual Result

City Care has announced a net profit after tax of $10.23 million for the year ended 30 June 2015.

Revenue for the year was $334 million. After tax return on average equity sits at 19.2%.

The pleasing financial performance and operating cash flow of $21.5 million resulted in a closing equity ratio of 51.3%, ahead of the Statement of Intent target of 49.5%.

Based on this positive result, City Care paid dividends of $5.715 million to its shareholder, Christchurch City Holdings Limited.

For the first time in 2014, City Care was named in the Deloitte Top 200 Companies List, at number 95.

During the year City Care acquired two complementary businesses: Apex Environmental and Command Building Services.

Timaru-based Apex Environmental is a specialist industrial water and wastewater consultancy business operating across industrial markets including dairy, textiles, wineries, food and beverage and local authorities. With its capability and established reputation for delivering quality turn-key industrial water and wastewater treatment projects, Apex adds significant strength and expertise to City Care’s water, wastewater and stormwater services.

Command Building Services provides heating, ventilation and air conditioning (HVAC) services in Wellington and Christchurch. Its acquisition has added HVAC services to City Care’s facilities management capabilities, further boosting the company’s ability to self-deliver technical and trade services.

City Care retained its Facilities Management contract with New Zealand’s largest locally-owned service station chain, Z Energy.

The company also rebuilt or refurbished several prominent regional facilities including Wellington’s Museum of City and Sea, the Waltham Community Pool in Christchurch and Cholmondeley Children’s Centre in Governors Bay.

City Care won contracts to build modern learning environments for the Ministry of Education, and won a joint contract to construct the Margaret Mahy Family Playground, the biggest facility of its kind in the Southern Hemisphere.

City Care’s longstanding greenspace maintenance contracts with Auckland Council gained international recognition during the year, with the awarding of globally-acclaimed Green Flag Awards to three City Care-maintained Auckland Council parks.

The company was again at the forefront of emergency response efforts during the winter months, when storms and floods hit Dunedin and parts of the North Island, including Wellington and New Plymouth.

At 30 June City Care employed 1473 staff members across its various business streams and its 17 locations nationwide. The company continued to invest heavily in its people, delivering a wide range of training and development opportunities.

City Care also continued to support community-based activities, sponsoring the Hairy Maclary and Friends bronze sculpture in Tauranga, the Student Volunteer Army in Canterbury and charity art installation Christchurch Stands Tall.

ENDS

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