New Zealand Gazette – 1998 – No. 128

Page 3150

✨ Financial Performance Statement

Statement of Financial Performance

For the year ended 31 March 1998

	Generation	Generation	Network Operations	Network Operations	Energy Trading	Energy Trading	Inter-Segment Elimination	Inter-Segment Elimination	Consolidation	Consolidation
	31.03.98	31.03.97	31.03.98	31.03.97	31.03.98	31.03.97	31.03.98	31.03.97	31.03.98	31.03.97
Revenue: Energy Sales				23,564,767	19,778,253			23,564,767	19,778,253
Revenue: Line Charges			9,483,949	9,678,753		(9,483,949)	(9,678,753)	0	0
Revenue: Generation	3,020,696	3,699,219				(3,020,696)	(3,699,219)	0	0
Interest/Other Income	1,703	3,123	272,705	307,858	46,528	23,656		320,936	334,637

Less

| | | | | | | | | | | |
| Operating Expenses | 1,141,252 | 1,098,194 | 6,764,722 | 6,719,095 | 20,121,593 | 12,504,645 | | 18,547,536 | 14,560,910 |
| Bad Debts | 4,041 | 4,041 | 22,584 | 3,749 | 83,476 | 59,764 | | 106,060 | 63,513 |
| Auditors Remuneration | 4,041 | | 16,165 | 16,165 | 6,736 | 6,736 | | 26,942 | 26,942 |
| Other Audit fees | 777 | 825 | 3,109 | 3,300 | 1,296 | 1,375 | | 5,182 | 5,500 |
| Directors fees | 12,600 | 12,600 | 50,400 | 50,400 | 21,000 | 21,000 | | 84,000 | 84,000 |
| Superannuation | 5,546 | 6,029 | 46,187 | 55,424 | 13,821 | 14,294 | | 65,554 | 75,747 |
| Interest | 12,290 | 103,907 | 8,899 | 75,243 | - | - | | 21,189 | 179,150 |
| Depreciation | 402,329 | 405,479 | 1,278,518 | 1,286,132 | 49,028 | 57,520 | | 1,729,875 | 1,749,131 |

| Net Profit before Tax and Rebate | 1,443,564 | 2,071,267 | 1,566,070 | 1,777,103 | 289,731 | (480,373) | 0 | 3,299,365 | 3,367,997 |
| Rebates | 312,500 | 505,000 | 312,500 | 305,000 | - | - | 930,000 | 505,000 |

| Net Profit before Tax | 1,131,064 | 1,566,267 | 1,253,570 | 1,777,103 | (15,269) | (480,373) | 0 | 2,369,365 | 2,862,997 |
| Tax Expense | 364,546 | 509,977 | 393,304 | 577,115 | 5,806 | - | | 763,656 | 1,087,092 |

| Net Profit after Tax | 766,518 | 1,056,290 | 860,266 | 1,199,988 | (21,075) | (480,373) | 0 | 1,605,709 | 1,775,905 |
| Dividend Expenses | 276,741 | 276,741 | 195,627 | 195,627 | 4,772 | 4,772 | | 477,140 | 477,140 |
| Retained Earnings | 489,777 | 779,549 | 664,639 | 1,004,361 | (25,847) | (485,145) | 0 | 1,128,569 | 1,298,765 |

NEW ZEALAND GAZETTE

No. 128

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VUW Te Waharoa — NZ Gazette 1998, No 128

NZLII — NZ Gazette 1998, No 128

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

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🏭 Electricity Information Disclosure by Otago Power Limited (continued from previous page)

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