We are now halfway through the year and 2007 looks like it will be another success for NRMA.
Our business remains strong; the board is focused on keeping the company on the right path and we are finding new and better ways to deliver fresh benefits to our Members.
We bought new holiday parks, opened NRMA MotorServe, launched CarWise and acquired Adventureworld.
Acquiring these businesses is part of our strategy to invest in long-term investments which will grow in value, provide good returns and deliver practical benefits to our Members through discounts and special offers.
It is this strategy that has seen our Members' funds grow from a declining $450 million to now over $900 million. The company relies on this investment pool for its future.
Our work as a voice for motorists also delivered many positive results for motorists in the first half of this year.
In May, Treasurer Peter Costello handed down a Federal Budget that included a record $23 billion for roads and transport. This much-welcomed funding injection came after intense lobbying by the NRMA. The budget included $250 million for local councils, so that they can fix many of the most dilapidated streets and roads in the community.
NRMA has spoken out on traffic congestion and the negative affect it is having on our BusinessWise Members in Sydney. We also put the heat on the NSW Government to get serious about fixing the chronic traffic problems that have choked the northern beaches for the last 30 years.
The second half of the year will be even busier. A federal election is looming. NRMA will play a major part in ensuring all candidates focus their attention on issues that matter most to our Members - more funding for roads, a fairer deal out of petrol prices, safer cars and greater driving education.
The board has welcomed the investigation into the oil companies and expect that some lasting relief will finally be delivered to motorists.
Also, we will continue to apply the pressure to governments to start work on some of the critical missing links in Sydney that are essential to improving the city's congested streets.
The board will maintain this level of intensity because we know that results can be achieved for our Members.
Alans Evans President
