Auckland City's net debt rises 6.5% to $7.97B, net assets rise 6.3% to $35.8B

Mon, 28 Aug 2017

By Jonathan Underhill Aug. 29 (BusinessDesk) - Auckland Council's debt rose 6.5 percent to $7.97 billion as the city invested in transport and water infrastructure, while net assets climbed 6.3 percent to $35.8 billion, according to its preliminary unaudited accounts. New Zealand's biggest city recorded an operating surplus before gains and losses of $340 million in the 12 months ended June 30, from $250 million a year earlier. Revenue from ordinary activities climbed 11 percent to $4.1 billion. Acting chief financial officer Matthew W...

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