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New Zealand Gazette – 1996 – No. 145

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✨ Financial Performance Statement

NEW ZEALAND GAZETTE

No. 145

CAPITAL POWER LIMITED

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31 MARCH 1996

	LINE BUSINESS	ENERGY BUSINESS	TOTAL
Notes	31-Mar-96	31-Mar-95	31-Mar-96
	$'000	$'000	$'000

Operating Income

Sales of Electricity | 58,703 | 52,877 | 56,380 | 52,048 | 115,083 | 104,925 |

Less: Cost of Electricity Sales

Purchase of Electricity | 25,365 | 24,018 | 49,288 | 46,143 | 74,653 | 70,161 |

Less: Gains from Unhedged Positions | - | - | 4,659 | 1,952 | 4,659 | 1,952 |

COST OF ELECTRICITY SALES | 25,365 | 24,018 | 44,629 | 44,191 | 69,994 | 68,209 |

GROSS SURPLUS ON ELECTRICITY TRADING | 33,338 | 28,859 | 11,751 | 7,857 | 45,089 | 36,716 |

Less: Expenses

Operating Expenses | 11,210 | 12,042 | 5,545 | 1,324 | 16,755 | 13,366 |

Auditors' Remuneration - Audit Fees | 26 | 37 | 25 | 37 | 51 | 74 |

Auditors' Remuneration - Other Services | 1 | 8 | 1 | 7 | 2 | 15 |

Bad Debts | 4 | - | 359 | - | 363 | - |

Change in Provision for Doubtful Debts | (1) | - | (74) | 506 | (75) | 506 |

Depreciation | 2,886 | 2,243 | 396 | 746 | 3,282 | 2,989 |

Directors' and Management Fees | 10 | 56 | 76 | 53 | 109 | 153 |

Interest on Loans | 444 | 357 | 203 | 164 | 647 | 521 |

Rental and Operating Lease Costs | 453 | - | 36 | 362 | 491 | 362 |

TOTAL EXPENSES | 15,079 | 14,763 | 6,546 | 3,223 | 21,625 | 17,986 |

SURPLUS FROM ELECTRICITY TRADING | 18,259 | 14,096 | 5,205 | 4,634 | 23,464 | 18,730 |

Other Income

Miscellaneous Income | 1,570 | - | 235 | 1,382 | 1,805 | 1,382 |

Interest Income | 677 | 655 | 276 | 300 | 953 | 955 |

TOTAL OTHER INCOME | 2,247 | 655 | 511 | 1,682 | 2,758 | 2,337 |

NET SURPLUS BEFORE TAX AND SUBVENTION PAYMENT | 20,506 | 14,751 | 5,716 | 6,316 | 26,222 | 21,067 |

Less: Subvention Payment | - | - | 16,838 | - | 16,838 | - |

NET SURPLUS BEFORE TAX AND AFTER SUBVENTION PAYMENT | 20,506 | 14,751 | (11,122) | 6,316 | 9,384 | 21,067 |

Less: Income Tax Expense/(Benefit) | 12 | 6,548 | 5,030 | (3,730) | 1,217 | 2,818 | 6,247 |

NET SURPLUS/(DEFICIT) AFTER TAX | 13,958 | 9,721 | (7,392) | 5,099 | 6,566 | 14,820 |

Retained Earnings at Beginning of Year | 13,990 | 15,793 | (8,036) | (6,105) | 5,962 | 9,688 |

Less: Transfer to/(from) General Reserve | - | - | 2,665 | 1,308 | 2,665 | 1,308 |

Less: Dividend | 6,319 | 11,516 | - | 1,761 | 8,080 | 17,238 |

Retained Earnings at End of Year | 21,037 | 13,998 | (19,093) | (8,036) | 1,783 | 5,962 |

The attached notes form an integral part of, and should be read in conjunction with, these financial statements.

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VUW Te Waharoa — NZ Gazette 1996, No 145

NZLII — NZ Gazette 1996, No 145

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Statement of Financial Performance for Capital Power Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Performance, Electricity, Revenue, Expenses, Capital Power Limited

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