Events Key Driver Behind ILT’s Solid Financial Performance

ILT Group held its Annual General Meeting on 8 September, providing a comprehensive overview of its financial performance for the year ending 31 March 2025. The organisation was delighted to return $8.9 million in grants and donations to the community.

ILT Chief Executive Chris Ramsay said the Group was pleased with the level of donations to the community, despite the year presenting significant challenges.

“The cost of living has hit our industry hard and that impact has been evident right across all areas of our business. The first six months of the financial year were particularly difficult, and we entered the back half of the year almost $1 million, or 29%, down in pre-tax profit compared to the same point in the previous year,” Ramsay said.

“Our strong recovery in the second half of the year was largely driven by the return of conferences and major national events hosted in Invercargill, many of which our funding helped secure for the region. These events brought vital revenue and visitors from outside Southland, helping offset softer local spending.”

Highlights included the National Pipe Band Championships, the largest gathering of its kind in New Zealand, the BMX Nationals, the NZ Evergreen Men’s Softball Tournament and the NZ Marching Championships.

For the year ended 31 March 2025 ILT achieved a profit before donations and tax of $7.010 million, an improvement of $391K or 5.91% better than the year prior.

“In the current economic climate, this is a result to be proud of,” said Ramsay.

This enabled ILT to deliver $3.485 million in donations to the community, up 6% on the year prior, as part of the total $8.872 million distributed by the ILT Group.

Funding supported a wide range of community initiatives, clubs and projects. For example, the Southland Hospital A&E Department, the Mitey Programme, Museum of Southland, Tertiary Scholarship programme and the Learn to Swim Programme.

ILT President Paddy O’Brien said the donations underscored the organisation’s purpose to serve the community.

“We have produced a solid financial performance under sustained challenging circumstances. But most importantly, we continue to make strong returns to the community and are incredibly proud to have reached $8.9 million in donations.”

“As we close out our 80th year, we remain proud of our shared history with this city and all we have achieved together. Looking ahead, the future of ILT is strong, a strength built on the enduring loyalty and trust of the Invercargill community, our shareholders. Thank you,” O’Brien said.

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