Penguin colony expected to return 25% more in profit

June 11, 2019 - 134 views

The Oamaru Blue Penguin Colony is expected to net a profit of more than $1 million this year - a 25% increase on last year.

Tourism Waitaki's six-month report to December 31, 2018, to be tabled at the Waitaki District Council meeting today shows the council-controlled Oamaru Harbour wildlife tourism operation is expecting a profit of $1,041,254 this financial year, an increase of 25.14% over last year's $832,068 profit.

The report also forecasts a return for the entire organisation to profitability.

Tourism Waitaki posted a total deficit of $61,512 for the 2017-18 financial year, but is now expected to land $213,110 in the black.

General manager Margaret Munro writes the financial year was tracking towards an "acceptable result''.

Mrs Munro declined to comment before today's meeting.

Her report to the council shows closing the Palmerston i-Site was expected to save Tourism Waitaki $69,000 a year.

Natural attrition - from July to December last year when 2.4 full-time equivalent roles were not replaced - was expected to save the organisation $104,000 a year.

The penguin colony had "consistent numbers'' for night-time viewing, but ticket prices increased.

Tourism Waitaki's Harbour St heritage attraction Whitestone City, which opened in 2017, continues to lose money.


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