New Zealand Gazette – 1999 – No. 110

Page 2626

✨ Financial Statements



2626
NEW ZEALAND GAZETTE
No. 110

ALPINE ENERGY LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1999

STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 MARCH 1999 (Continued)

Notes 1999 $'000 1998 $'000
EXPENDITURE
Payment for transmission charges. 7,341 6,329
Expense of asset maintenance carried out by related entities. 1,417 2,142
Expense of consumer disconnections and reconnections carried out by related entities. - -
Expense of providing meter data carried out by related entities. - -
Expense of providing consumer-based load control services carried out by related entities. - -
Expense of avoided transmission charges on account of own generation (transfer payment). - -
Expense of other goods and services provided by “Other” business (transfer payment). - -
Expenses to non-related entities for asset maintenance services. - -
Expenses to non-related entities for disconnections/reconnections services. - -
Expenses to non-related entities for providing meter data. - -
Payment to non-related entities for providing consumer-based load control services. - -
Employee salaries and redundancies. 1,120 930
Consumer billing and information system expense. - -
Depreciation expense on system fixed assets. 1,674 2,146
Depreciation on capital works under construction. - -
Depreciation expense on other assets. 146 223
Corporate and administration. 2 1,425
Total other human resource expenses. - -
Marketing/advertising. 68 199
Merger and acquisition expenses. - -
Takeover defence expenses. - -
Research and development expenses. - -
Consultancy and legal expenses. 27 55
Electricity hedges. - -
Amortised goodwill. 141 141
Subvention payments. - -
Other expenditure. 449 1,335
TOTAL EXPENDITURE 13,808 14,880
EARNINGS BEFORE INTEREST AND TAX 6,742 5,369
INTEREST EXPENSE - -
TAXATION EXPENSE 3 (1,916)
NET PROFIT AFTER TAX 4,826 3,890

The accompanying notes form part of these financial statements.



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