✨ Financial Statements




28 JUNE NEW ZEALAND GAZETTE 2149

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

2 OPERATING EXPENSES

1991 1990
$000's $000's
Total Operating Expenses 369,608 172,277

Included in Operating expenses are:

  • Depreciation | 104,711 | 46,936 |
  • Audit fees | 156 | 106 |
  • Intercompany management fee | 19,860 | 10,819 |
  • Foreign exchange (gains)/losses| (178) | 67 |
  • Lease and rental costs | 5,749 | 1,965 |

3 INTEREST

1991 1990
$000's $000's

Interest income:

  • Intercompany | 1,982 | 2,828 |

Interest expense:

  • Intercompany | 37,804 | 18,281 |
  • Other | 159 | - |

Total Interest Expense | 37,963 | 18,281 |

4 INCOME TAX

1991 1990
$000's $000's

The income tax expense for the year is determined as follows:

  • Net earnings before income tax | 94,492 | 44,513 |
  • Tax at current rate of 33% | 31,182 | 14,689 |
  • Adjustment for permanent differences | 956 | (899) |

Total income tax expense | 32,138 | 13,790 |



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✨ LLM interpretation of page content

🏭 Telecom Central Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
7 June 1991
Telecommunications, Financial Reporting, Operating Expenses, Interest, Income Tax