Shotover lays down future plans

The company's recently appointed CEO, Adrian Januszkiewicz, told the company's AGM that management has a very simple plan for the next 12 months.

"We intend to concentrate on consolidating our current position. Our result last year was satisfactory, however I believe we are well placed to improve on that result.

"What this means is a "back to basis" approach to optimise returns from existing assets. The key to this approach is simple strategies, financial prudence and operational excellence."

However Mr Januszkiewicz says the business must also begin to look ahead and management has begun a strategic planning process to carry the company through the next 3 to 5 years.

He says this means the company will be centred around being a "world class" tourism attractions business with a focus on the NZ market, but will also look to either acquire or start up new businesses.

"But we will be very careful about growth. We will ensure that any opportunity for expansion meets the strict criteria of maximising shareholder value."

"More about our strategy will be revealed as we complete the work over the next 6-8 months."

SJL, which is majority owned by Ngai Tahu Tourism, posted a profit of $4.5 million for the year to June including a $2.6 million write-up of the rights to use the Shotover River near Queenstown.

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