Dunedin Stadium Property Ltd, formerly Dunedin Venues Ltd, booked another loss, of $3.2million, down on last year's $4 million loss, largely due to a decline in interest costs following a stadium review.
The majority of subsidiaries were either down on after-tax surpluses from the same period last year or remained in loss, such as the Dunedin Stadium Property and Taieri Gorge Railway.
Dunedin City Holdings chairman Graham Crombie said the outlook for the balance of the financial year was positive, with full-year results expected to be close to budget.
DCHL revenue declined from $139.08 million a year ago to $125.1 million and, as intended, no dividend was paid to the council, he said.
''The strong operating cashflow and overall lower debt levels continue to reflect the group's stable financial performance,'' he said in statement.
Mr Crombie described the outlook for the second-half trading as ''positive'', with full-year results expected ''close to budget''.
Following a report by Deloitte, operational changes were being made by Aurora and Delta Utility Services, but those changes were not reflected during the reporting period, Mr Crombie said.
He said Delta's $1.84 million surplus was consistent with the previous year and in line with expectations.
He said Aurora Energy's profit was also in line with budget expectations.
''The profit was lower than previous periods as the company invested in higher levels of network maintenance and new network assets that are unfunded because of the company's earnings being regulated as an electricity business.''
Operating revenue for Dunedin Stadium Property, formerly Dunedin Venues Ltd, was consistent with the same period in 2015, with a six-month surplus of $111,000, Mr Crombie said
''We're now seeing the benefit of the recommendations of the DCC's stadium review,'' he said.
Its report said the company had funding lines in place so it was able to maintain its operational, capital and debt financing requirements.
There were several ''key factors'' for City Forests and its $3.5million surplus, with strong domestic demand, steady exports, favourable log export prices and shipping costs and exchange rate gains.
While forest production was below budget, as a result of agreed changes to the clear fell plan and contractor schedules within the forest estate, that would be made up by the end of the financial year, he said.
The Taieri Gorge Railway was initially assisted by a slow but steady increase in tourist numbers. However, the late start to the cruise ship season and four cruise ship cancellations brought a $470,000 loss, which was larger than last year's.
Dunedin International Airport had performed strongly, with a rise in operating revenue on the back of passenger numbers compared with operating expenses, plus a decrease in interest costs, which lifted the overall financial performance.
