A clear focus on customers and proactive service delivery has helped Citywide to record a strong financial performance, delivering its second largest pre-tax profit in the company’s 22-year history.
The company posted a profit from ordinary activities (before income tax) of $12.8 million (2016: $8.5million), enabling a final dividend of $3.8 million to the City of Melbourne, up from $3.6million in 2016.
Citywide’s Chief Executive Officer Chris Campbell said the 2017 financial result was a pleasing outcome after the recent consolidation and organisational restructure the previous year.
“This year’s result reflects our new direction which is underpinned by our strategic pillars of Culture, Productivity, and Growth in line with our Purpose of Shaping Liveable Cities. Our approach is built upon the new business strategy which the Board endorsed in 2016,” Mr Campbell said.
“The strong result reflects the focus and capability of Citywide’s team who have delivered, notwithstanding the highly competitive market conditions.
“We have seen the ongoing effects of restrictive rate-capping on Council budgets and we expect to continue to be challenged by the commercial realities of growing a profitable, sustainable business for the long term – but we have the team in place to deliver.”
On the release of the 2017 Citywide Annual Report, Mr Campbell said the company also recorded an improved LTIFR (Lost Time Injury Frequency Rate) and a reduced Injury Severity index, though he added there was work still to do.
“Safety remains a constant focus and a core part of our culture, and it is heartening to see an improved Safety performance,” Mr Campbell said.
“Despite our key performance metrics trending downwards, we are still striving for our goal of Zero Harm. For us, Safety will remain an ongoing journey.”
Mr Campbell said with the new executive and senior management team now in place, supported by the solid platform from the recent restructure, the company’s focus was firmly on growing the business, with a strong focus on Sustainability and Innovation.