New Zealand Gazette – 1998 – No. 189

Page 4432

✨ Financial Statements

NEW ZEALAND GAZETTE

No. 189

Electricity Corporation of New Zealand Limited

Statement of Financial Performance for the year ended 30 June 1998

	Notes	1998 $M	1997 $M
CONTINUING ACTIVITIES
Revenue	2	928	990
Operating expenses		443	530
Net finance costs	3	90	82
		395	378
Gain on sale of Mangahao power station		30	-
Matahina dam costs		31	-
Operating profit from continuing activities		394	378

DISCONTINUED ACTIVITIES

	Notes	1998 $M	1997 $M
Revenue	2	-	93
Operating expenses		-	93
Operating profit from discontinued activities		-	-

| Profit before taxation | 4 | 394 | 378 |
| Taxation | 5 | 94 | 111 |
| Net profit for the year | | 300 | 267 |

Statement of Movement in Equity for the year ended 30 June 1998

		1998 $M	1997 $M
Equity at start of the year		2,003	1,937
Net profit for the year		300	267
Surplus arising on fair valuation	1	-	105
		2,303	2,309
Dividends payable:
Ordinary dividends paid or provided	6	68	148
Special dividends paid	6	-	158
		68	306
Equity at end of the year		2,235	2,003

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VUW Te Waharoa — NZ Gazette 1998, No 189

NZLII — NZ Gazette 1998, No 189

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✨ LLM interpretation of page content

🏭 Electricity Corporation of New Zealand Limited Statement of Financial Performance (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Performance, Revenue, Operating Expenses, Profit, Taxation

🏭 Electricity Corporation of New Zealand Limited Statement of Movement in Equity (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsEquity Movement, Dividends, Profit, Valuation

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