New Zealand Gazette – 1997 – No. 102

Page 2388

✨ Financial Performance Report

Statement of Financial Performance

For the year ended 31 March 1997

	Generation	Generation	Network Operations	Network Operations	Energy Trading	Energy Trading	Inter-Segment Elimination	Inter-Segment Elimination	Consolidation	Consolidation
	31.03.97	31.03.96	31.03.97	31.03.96	31.03.97	31.03.96	31.03.97	31.03.96	31.03.97	31.03.96
Revenue: Energy Sales					19,778,253	19,570,863			19,778,253	19,570,863
Revenue: Line Charges			9,678,753	8,927,048			(9,678,753)	(8,927,048)	0	0
Revenue: Generation	3,699,219	2,965,454					(3,699,219)	(2,965,454)	0	0
Interest/Other Income	3,123	10,915	307,858	1,408,019	23,656	33,500			334,637	1,452,434

Less

| Operating Expenses | 1,098,194 | 851,590 | 6,719,095 | 6,098,498 | 20,121,593 | 19,090,231 | (13,377,972) | (11,892,502) | 14,560,910 | 14,147,817 |
| Bad Debts | | | 3,749 | | 59,764 | 5,943 | | | 63,513 | 5,943 |
| Auditors Remuneration | 4,041 | 3,375 | 16,165 | 13,500 | 6,736 | 5,625 | | | 26,942 | 22,500 |
| Other Audit fees | 825 | 666 | 3,300 | 2,666 | 1,375 | 1,111 | | | 5,500 | 4,443 |
| Directors fees | 12,600 | 10,950 | 50,400 | 43,800 | 21,000 | 18,250 | | | 84,000 | 73,000 |
| Superannuation | 6,029 | 5,572 | 55,424 | 53,124 | 14,294 | 12,638 | | | 75,747 | 71,334 |
| Interest | 103,907 | 154,684 | 75,243 | 112,012 | | | | | 179,150 | 266,696 |
| Depreciation | 405,479 | 386,798 | 1,286,132 | 1,127,990 | 57,520 | 36,745 | | | 1,749,131 | 1,551,533 |

| Net Profit before Tax and Rebate | 2,071,267 | 1,562,734 | 1,777,103 | 2,883,477 | (480,373) | 433,820 | 0 | 0 | 3,367,997 | 4,880,031 |

| Rebates | 505,000 | 162,000 | | 570,000 | | | | | 505,000 | 732,000 |

| Net Profit before Tax | 1,566,267 | 1,400,734 | 1,777,103 | 2,883,477 | (480,373) | (136,180) | | | 2,862,997 | 4,148,031 |

| Tax Expense | 509,977 | 391,919 | 577,115 | 806,784 | | | | | 1,087,092 | 1,198,703 |

| Net Profit after Tax | 1,056,290 | 1,008,815 | 1,199,988 | 2,076,693 | (480,373) | (136,180) | 0 | 0 | 1,775,905 | 2,949,328 |

| Dividend Expenses | 276,741 | 276,741 | | 195,627 | 195,627 | 4,772 | 4,772 | | 477,140 | 477,140 |

| Redemption Preference Shares | 289 | | 204 | | 6 | | | | 499 |

| Retained Earnings | 779,549 | 731,785 | 1,004,361 | 1,880,862 | (485,145) | (140,958) | | | 1,298,765 | 2,471,689 |

NEW ZEALAND GAZETTE

No. 102

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VUW Te Waharoa — NZ Gazette 1997, No 102

NZLII — NZ Gazette 1997, No 102

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✨ LLM interpretation of page content

🏭 Accounting Policies and Asset Allocation (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsAccounting Policies, Asset Allocation, Depreciation, Taxation, GST, Electricity, Otago Power Limited

🏭 Statement of Financial Performance

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Performance, Revenue, Expenses, Profit, Tax, Dividend, Retained Earnings, Energy Trading, Generation, Network Operations

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