New Zealand Gazette – 1998 – No. 149

Page 3605

✨ Financial Statements

NEW ZEALAND GAZETTE

18 SEPTEMBER

STATEMENT OF FINANCIAL PERFORMANCE

	Line Business $000		Generation Business $000		Contracting Business $000
	1998	1997	1998	1997	1998	1997
note*

INCOME

| | 30,217 | 29,198 | 11,015 | 10,914 | 11,747 | 12,223 |

LESS OPERATING EXPENSES:

| Transport charges | 10,212 | 9,340 | 787 | 355 | 0 | 0 |
| Maintenance/materials/plant | 5,572 | 5,140 | 0 | 0 | 3,668 | 3,906 |
| Management and operation | 0 | 0 | 1,757 | 2,080 | 0 | 0 |
| Employee remuneration | 442 | 637 | 0 | 0 | 3,904 | 3,865 |
| Administration | 656 | 735 | 173 | 215 | 938 | 898 |
| Other operating expenses | 490 | 183 | 526 | 728 | 501 | 552 |

| Total | 17,372 | 16,035 | 3,243 | 3,378 | 9,011 | 9,221 |

EARNINGS BEFORE DEPRECIATION INTEREST AND TAX

| | 12,845 | 13,163 | 7,772 | 7,536 | 2,736 | 3,002 |

LESS:

| Depreciation | 3,313 | 2,836 | 898 | 863 | 651 | 790 |
| Interest Expense | 17 | 12 | 1,543 | 1,443 | 237 | 153 |

NET PROFIT BEFORE TAX

| | 9,515 | 10,315 | 5,331 | 5,230 | 1,848 | 2,059 |

LESS TAXATION

| | 3,945 | 4,168 | 1,732 | 1,716 | 653 | 679 |

NET PROFIT AFTER TAX

| | 5,570 | 6,147 | 3,599 | 3,514 | 1,195 | 1,380 |

LESS DIVIDENDS PROVIDED

| | 7,471 | 5,876 | 8,483 | 2,987 | 3,546 | 2,600 |

TRANSFERRED TO RETAINED EARNINGS

| | (1,901) | 271 | (4,884) | 527 | (2,351) | (1,220) |

STATEMENT OF FINANCIAL POSITION

	Line Business $000		Generation Business $000		Contracting Business $000
	1998	1997	1998	1997	1998	1997
note*

SHAREHOLDER’S FUNDS

| Fully paid capital | 2,000 | 2,000 | 28,000 | 28,000 | 2,800 | 2,800 |
| Revaluation reserve | 69,470 | 70,280 | 15,841 | 15,841 | 3,229 | 2,828 |
| Retained earnings | 0 | 1,901 | 0 | 4,884 | 0 | 2,351 |

| Total | 71,470 | 74,181 | 43,841 | 48,725 | 6,029 | 7,979 |

REPRESENTED BY

| Current Assets | 4,298 | 5,122 | 352 | 1,465 | 4,711 | 6,612 |
| Current Liabilities | 10,468 | 10,743 | 4,283 | 1,629 | 2,687 | 2,649 |

WORKING CAPITAL

| | (6,170) | (5,621) | (3,931) | (164) | 2,024 | 3,963 |

FIXED ASSETS

| | 77,725 | 79,848 | 67,055 | 66,929 | 4,284 | 4,287 |

TERM LIABILITIES

| | 85 | 46 | 19,283 | 18,040 | 279 | 271 |

DEFERRED TAXATION

| | 0 | 0 | 0 | 0 | 0 | 0 |

NET FUNDS EMPLOYED

| | 71,470 | 74,181 | 43,841 | 48,725 | 6,029 | 7,979 |

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VUW Te Waharoa — NZ Gazette 1998, No 149

NZLII — NZ Gazette 1998, No 149

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✨ LLM interpretation of page content

🏭 Certification of Financial Statements for Dunedin Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated26 June 1998
KeywordsFinancial Statements, Certification, Dunedin Electricity Limited, Electricity Regulations

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