Weather bombs and inflation lead to profit drop at Akld Council
Revenues rise as city rebounds from Covid, but Council still wants central govt to foot the bill for early 2023 storms.
Cyclone Gabrielle wrecked havoc on the city – and the city’s accounts.
In annual results released today, Auckland Council Group reported a 41% drop in profit to just over a billion dollars to June 30, 2023, with inflation, interest rate increases and severe weather in the first half of the year to blame.
In the year under review, storm response and recovery costs had
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