Press Release 28 September 2016
Trust House Ltd Turnaround
The 2015-2016 Trust House Annual Report has some very positive results.
Chief Executive, Allan Pollard says he is very pleased with the outcomes.
“It’s been a great year for Trust House, with a significant improvement in performance across all our business segments.”
“The contributing factors for this have been the restructure of our major shareholding entities to reduce our group expenses, including the reduction of the senior management team to reduce costs and improvements in our operational efficiencies.”
“We’ve also spent considerable time looking at our business model to make sure that all segments are returning profits back into our communities. We’ve put every part of our business under the microscope to make sure we are operating as smartly and efficiently as we can.”
“The hard work has paid off, now all segments are generating strong returns. Trading profit is up $470,000.00.”
“Our total group profit was $6.5m. What this means for our communities is that we can give more back to our people, events and projects.”
“We’ve been able to increase our charitable donations by $211,000 and injected $305,000 to sponsorship. Overall our contribution to communities was $4.1m. This has included health and welfare, education, community promotion and development, arts and history and recreation and sport.”
“One of our strongest business models, community housing, has also benefited from our positive results, over the last 12 months we have reinvested over $1m. The investment has included home insulation, log burners, heat pumps, paintng and decorating, as well as preventative maintenance.”
“Overall we now have an asset base of $80m with equity of $54m, this demonstrates a strong and sustainable balance sheet that will enhance future growth.”
“Which ever way you cut the numbers the one real certainty is that we have contributed excellent capital returns to the communities in which we trade.”
“It has been a very satisfying year, it’s heartening for me to see how the hard work by our people has made a such a difference. The flow on effect to our communities and our ability to give more back is what we’re all about.”
The full annual report can be read or downloaded here.
Background: Trust House Ltd is a community-owned company based in the Wairarapa. Trust House Ltd operates a range of businesses in Wairarapa, Pahiatua, Flaxmere, Feilding and Porirua, including 500 rental homes, liquor stores, bars, hotels, supermarkets, a hydro electric scheme and a foundation. Trust House Ltd aims to enhance the well-being of people in the Wairarapa region by operating local businesses that employ locals and make profits, distributing profits to community events and organisations through sponsorship and donations and by being a community housing provider that puts people first. For more information contact – Allan Pollard 0274 933 507 or allan@trusthouse.co.nz
