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New Zealand Gazette – 1998 – No. 193

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✨ Financial Statements

30 NOVEMBER NEW ZEALAND GAZETTE 4543

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1998

9. INVESTMENTS (cont.)

Investment in associate company comprises:

	1998	1997
	$000	$000
Ordinary shares at cost	778	778
Accumulated share of post acquisition retained earnings	(80)	(613)
	698	165
Advances to associate company	3,317	4,507
	4,015	4,672

For the year ended 30 June 1998 Transpower has recognised a profit of $533,000 being the final share of the associate’s post tax surplus for the year ended 30 June 1998 (1997: post tax deficit of $115,000).

There is no tax expense/benefit recognised in the financial statements of the associate. Net dividends of $387,872 were received from the associate for the year ended 30 June 1998 (1997: nil).

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VUW Te Waharoa — NZ Gazette 1998, No 193

NZLII — NZ Gazette 1998, No 193

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Investments, Associate Company, Profit, Dividends

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