TDHL grows shareholders’ equity by 10.7%
Timaru, 8 December 2022 – Timaru District Holdings Limited (TDHL) today announced that it has made solid financial progress in 2022 posting a net surplus after tax of $13.0M and increasing shareholders’ equity by almost 11 percent to $149.5M despite the many challenges of COVID-19 and supply chain disruptions.
Frazer Munro, the General Manager for TDHL, says the financial result is very pleasing.
“We are happy that our resilience, our focus on careful stewardship of the investments and on consolidation has ensured a solid return despite uncertain and challenging operating conditions. We have met TDHL’s performance targets while providing a strong return, continued to pay down debt, reduced total liabilities by 6.5 percent and have substantially increased the shareholder’s equity. This positions the company well moving forward.” says Munro.
TDHL, through its commercial and investment activities, makes significant contributions to Timaru’s economic vitality.
“Underpinning TDHL’s 2022 result is our ongoing commitment to providing financial support to our shareholders which this year resulted in a total cash payment to Council of $2.7M compared with 2.4M in 2020/21,” says Munro.
Munro adds that TDHL’s commercial assets and development opportunities including the $2.5M sealing of the 3 Fraser St container yard will add value to its tenants and portfolio.
Download the 2022 Annual Report: https://tdhl.co.nz/wp-content/uploads/2022/11/TDH_AnnualReport_2022_interactive.pdf
Download the full media release here: 2022_TDHL_Annual_Report_Media_Release