Thanks a $2.5 million West Auckland!
The financial results for your Trusts for the 2018/19 year are in. Thank you West Auckland! By supporting The Trusts, you are supporting great causes in our community – everything from playgrounds and school vans to sports gear, surf club equipment and support for the Special Baby Care Unit at Waitakere Hospital.
We wanted to share the highlights for the 2018/19 financial year so you can see more about how your Trusts work.
Download Annual Report
The Trusts by the numbers:
- $117.9 million – combined operating revenue for WLT and PLT for 2018/19
- Revenue growth of 3.4% on previous year
- $7.2 million – combined net profit after tax for WLT and PLT for 2018/19 (Includes profit from the sale of property)
- $2.5 million given back to the community
- Retail outlets generated 84% of total revenue, hospitality 12% and investments 4%
- 27 stores in total
- Three new stores opened
- 11 hospitality venues
- One new modern eatery, Mr Illingsworth, opened
- Zero tolerance for alcohol sales to minors
- 350 team members
All of this means in 2019/20 we will invest 47% of our profit to give back, 32% into the existing business for refurbishing our stores and venues or opening new ones and 21% will be invested for the future.
What you helped to fund:
When you shop at a Trusts’ outlet, or enjoy our hospitality, you help us support great causes in West Auckland. In 2018/19 we gave $2.5 million through:
- $1 million given back in the Million Dollar Mission, to support 32 excellent causes in the 2018/19 financial year.(48 Million Dollar Mission winners chosen in the next community round late last year, achieving 200,000 votes from a community of 250,000 people in just 21 days for funding paid out in May 2019.)
- $600,000 for free first aid kits
- $600,000 for the Special Care Baby Unit at Waitakere Hospital (Instalment one of $2 million total)
- $300,000 for community sponsorships
Our annual report and full, independently audited financial statements for each Trust are available here, along with more detail on how we support West Auckland.
Download Annual Report
Greetings.
Thanks for giving back to the community but is $2.5m enough, considering that you are giving our own money back?
And why is your liquor prices higher than the supermarket prices outside West Auckland?
If you want people to back Trust up, your liquor price has to be cheaper than the other outlets and supermarkets. Remember you made $7.2m profits and most of it was from the sale of liquor!
There are people who travel out of West Auckland to buy liquor because it is cheaper there. And why this Monopoly? Why are you not prepared to compete if you can’t keep the prices down??
Cheers
Hi Abhi, thanks for your comment. Our community voted for the retail sale of alcohol in West Auckland to be under a licensing trust model. There are a range of views on this topic, but one of the pieces of feedback we often hear is that the small inconvenience of not having beer and wine in supermarkets is worth it for knowing there is community control over the number, the location and the operating hours of liquor stores in our community, and that profit made is distributed back to West Auckland.
We have to be competitive on price in our retail stores to succeed. Prices fluctuate in different stores depending on promotion and pricing strategies. We do regular price comparisons and on any given day we can be the cheapest in some product lines and more expensive in others, but we always aim to provide good value for money. We put time, money and effort into our team delivering great service to you.
If you are interested in learning more about The Trusts, there is a lot more information available here: https://thetrusts.co.nz/about/
Hi – Are you able to advise how much profit was made last year from Pokie machines in West Auckland? Do all Pokie machines fall under the Trust out West? How much of this profit was redistributed to the community
Hi Andrew, thank you for your comment. Our profits come from our retail stores, hospitality venues and investment portfolio – not from gaming machine proceeds. Gaming machines are present in some of our venues and are owned by a separate gaming society called The Trusts Community Foundation Ltd (TTCF). Despite the similar names, TTCF is a separate organisation, responsible for gaming machines in approximately 49 venues around New Zealand, six of these are run by The Trusts. You can learn more about this here: https://thetrusts.co.nz/about/#1559789979309-e32c3467-093a