New Zealand Gazette – 1999 – No. 106

Page 2521

✨ Financial Statements



1 SEPTEMBER

NEW ZEALAND GAZETTE

2521

HAWKES BAY NETWORK LIMITED AND SUBSIDIARY

STATEMENT OF FINANCIAL PERFORMANCE

For The Year Ended 31 March 1999

Notes Lines Business Other Business
1999 1998 1999 1998
$000 $000 $000 $000
OPERATING REVENUE 4,13 32,310 27,257 37,908 49,239
OPERATING SURPLUS (DEFICIT) BEFORE TAXATION 4,13 5,633 (1,471) (6,227) 3,707
Taxation Expense 3 2,943 (405) (1,978) 1,223
NET OPERATING SURPLUS (DEFICIT) AFTER TAXATION 2,690 (1,066) (4,249) 2,484
Share of associate companies after tax surplus - - (153) 131
NET SURPLUS (DEFICIT) 2,690 (1,066) (4,402) 2,615

STATEMENT OF MOVEMENTS IN EQUITY

For The Year Ended 31 March 1999

Lines Business Other Business
1999 1998 1999 1998
$000 $000 $000 $000
Equity at 1 April 58,744 59,810 14,309 11,694
Net Surplus (Deficit) 2,690 (1,066) (4,402) 2,615
Revaluation Of Network Assets 49,405 - - -
Revaluation Of Land 713 - - -
Deferred Taxation in Respect Of Revaluation (8,383) - - -
Total recognised revenues and expenses for the year 44,425 (1,066) (4,402) 2,615
Dividends Paid - - (6,100) -
Equity at 31 March 103,169 58,744 3,807 14,309

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements. The Financial Statements have been prepared solely for the purpose of complying with regulations 6(2) and 6(3) of the Electricity (Information Disclosure) Regulations 1999.



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✨ LLM interpretation of page content

🏭 Hawke's Bay Network Ltd Certification of Financial Statements and Performance Measures (continued from previous page)

🏭 Trade, Customs & Industry
5 August 1999
Electricity, Information Disclosure, Financial Statements, Performance Measures, Reliability, Hawke's Bay Network Ltd, Audit