Good year for RCL

Ruapehu Bulletin, Volume 13, Issue 606, 3 October 1995, Page 9

Good year for RCL

A dividend of $150,000 is to be paid to the Ruapehu District Council by its company Ruapehu Construction Limited. The company presented its annual report to the council last Friday, boasting a year "171 per cent better than last year", which also provided a reasonable return. The company's turnover was $7.44 million, up from $7.05 million the previous year. Board of directors chairman Terry Podmore said this was despite a year of "the heaviest rain, the most snow and even an eruption", (although the eruption falls outside the financial year covered by the report). He said the conditions had put a strain on staff but that they were handling it well, despite abuse from the public on a number of occasions, chiefly to do with road closures. Mr Podmore told councillors that 26 per cent of the income for the Local Authority Trading Enterprise came from non-council customers. He said this compared well with other LATE's around the country that relied 95 per cent on their shareholding councils. Deputy Mayor Graeme Cosford said the company has shown a good result apart from the concerns expressed regarding the Ohakune Garden Centre. He said that issue should be resolved through the policy statement (see separate story). In other parts of the report remuneration for directors was put up from $3000 to $8800 during the year, and Terry Podmore replaced Garrick Workman as chairman.