ILT Reflects on a Quiet February Across Hospitality Sector
The Invercargill Licensing Trust’s restaurants and bar sales are down 23.3% and 30.7% respectively in the past month, compared to the same period in 2021.
Chief executive Chris Ramsay said, in a report the board, that there was still a fear in the community of avoiding restaurants and bars to be safe.
Accommodation sales for the four-week period were down by 24.3% from last February.
Off-premise liquor sales continue to be strong, increasing 3.3% in February, and up 12.3% compared to the previous 12 month period.
Overall, total sales were $6.07 million compared to $6.81 million last year, and $7.68 m the year before.
The ILT’s total year to date sales are now at $81.10 million. “These are better than the $75.74 million last year and down compared to the ‘normal level’ of sales (no Covid-19) for the Financial Year to February 2020, of $84.97 million,” he said.
Although the overall sales result looks positive, especially in light of the Government enforced restrictions, the sales mix means our profitability is significantly reduced, the report said.
The ILT’s total operating profit before tax for this month was $376 k and this compares to $900 k over the previous two years before Covid-19.
Overall, its year-to-date profit before tax is now $5.9 m, compared to $8.3 m last year, a reduction of $2.4 m.
“This reduction in profit can be directly attributed to the COVID-19 lockdown periods and traffic light system that we have endured during the August to February months this year.”
Report on grants allocated:
- Cancer Society of New Zealand, a total grant to a level of $6,000 will be provided to assist with promoting ‘Relay Your Way’ February 2022
- Invercargill-Southland Chess Club, a total grant to a level of $3,000 will be provided to assist with hosting the South Island Chess Championships in October 2022 in Invercargill
- Presbyterian Support Southland, a total grant to a level of $18,750 will be provided to assist with staff working within Family Works Services and Programmes, in particular the Parenting Programme.
Other grants approved:
- Invercargill Hockey Association, total grant to a level of $6000 will be provided to assist with the Junior/Development Programmes, and admin support
- Invercargill Repertory Society Inc, a total grant to a level of $9375 will be provided to assist with operating and running costs for Repertory House and upcoming productions
- Lighthouse Southland Inc, a total grant to a level of $3,750 will be provided to assist with the operating costs, specifically rent at 59 Gala Street and new employee costs
- Rape and Abuse Support Centre Southland, a total grant to a level of $3,750 will be provided to assist with wages for admin/reception and operating costs
- Royal NZ Plunket Trust, a total grant to a level of $3,750 will be provided to assist with the Teddy Bear’s Picnic 2022, operating costs and child restraint checks and installs
- Squash Southland Inc, a total grant to a level of $15,000 will be provided to assist with operating costs including wages
- Tuturu Charitable Trust, a total grant to a level of $5,000 will be provided to assist with the 2022 Matariki Festival, specifically lighting and audio costs.