Auckland Council Investments Ltd (ACIL) returned $156 million to the city in the June year - the equivalent of 11.1 per cent of Auckland Council's entire rates revenue, the company said in its annual report.
ACIL, which manages the council's investments in the Ports of Auckland (100 per cent) and Auckland International Airport, Auckland Film Studios, and $300 million in shares and bonds left over from the old Auckland Regional Authority, said the return was $110 million more than budgeted for.
Total income was $275.9 million and the return on equity was at 26.5 per cent, up on the 11.2 per cent achieved in the previous year.
ACIL's assets have increased from $1.5 billion when it was formed in 2010 to $2.44 billion in the year to June 30. The company, which has five directors and three staff, is a council-controlled organisation - one of seven bodies the council has under review.
"We are very much focused on governance issues - have we got the right strategy for each of the entities that we own," ACIL chief executive Gary Swift said.
