New Zealand Gazette – 1998 – No. 150

Page 3625

✨ Financial Statements



NEW ZEALAND GAZETTE

18 SEPTEMBER

3625

CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE

for the year ended 31 March 1998

Note 1998 1997
Total Line Energy Total Line Energy
$000 $000 $000 $000 $000 $000
Revenue 3 29,802 15,751 14,051 29,773 15,196 14,577
Less: Expenses 4 (26,197) (12,216) (13,981) (27,332) (13,322) (14,010)
Operating Surplus before Taxation 2 3,605 3,535 70 2,441 1,874 567
Less: Taxation expense 5 (1,116) (1,092) (24) (818) (629) (189)
Operating Surplus for the year 2,489 2,443 46 1,623 1,245 378
Less: Share losses of associate 9 (12) 0 (12) (38) — (38)
Net surplus for the year 2,477 2,443 34 1,585 1,245 340

The accompanying notes are an integral part of these financial statements.

CONSOLIDATED STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 31 March 1998

Note 1998 1997
Total Line Energy Total Line Energy
$000 $000 $000 $000 $000 $000
Equity at beginning of year 18,648 16,023 2,625 17,177 14,880 2,297
Add:
Net surplus for the year 2,477 2,443 34 1,585 1,245 340
Revaluation of Fixed Assets 14 (145) (136) (9) 186 — 30
Total recognised revenues and expenses for the year 2,332 2,307 25 1,771 1,401 370
Distributions to shareholders (500) (437) (63) (300) (258) (42)
Equity at end of year 20,480 17,893 2,587 18,648 16,023 2,625

The accompanying notes are an integral part of these financial statements.



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7 August 1998
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