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New Zealand Gazette – 2000 – No. 108

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✨ Financial Statement

NEW ZEALAND GAZETTE

No. 108

THE POWER COMPANY LIMITED

LINE BUSINESS

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31 MARCH 2000

	2000	1999
Revenue
Line/Access Charges	21,459,922	20,648,384
AC Loss Rental Rebates	413,010	613,908
Interest on Short Term Investments	176,363	109,712
Other Revenue	220,917	726,777
Total Revenue	22,270,212	22,098,781

| | | | |
| Direct Costs | | | |
| Transmission Charges | | 7,715,540 | 7,459,028 |
| Asset Maintenance | | 2,977,120 | 2,791,003 |
| Total Direct Costs| | 10,692,660 | 10,250,031 |

| Gross Profit | | 11,577,552 | 11,848,750 |

| | | | |
| Overheads and Expenses | | | |
| Audit Fees | | 35,105 | 33,059 |
| Bad Debts | | 1,436 | - |
| Customer Billing and Information System Expense | | 88,586 | - |
| Consultancy & Legal | | 154,420 | 159,603 |
| Corporate & Administration | | 444,769 | 377,676 |
| Directors Fees | | 134,469 | 115,602 |
| Employee Salaries & Redundancies | | 1,087,933 | 1,543,941 |
| Gore Borough Subsidy | | 204,613 | 212,580 |
| Human Resources | | 114,430 | 169,564 |
| Loss on Sale | | 61,474 | 8,550 |
| Marketing/Advertising | | 107,537 | 127,384 |
| Merger & Acquisition | | 67,072 | 11,253 |
| Other Costs | | 207,822 | 439,530 |
| Rates | | 13,794 | 17,602 |
| Research & Development| | 23,061 | 38,324 |
| Subvention Payments | | 70,663 | 81,112 |
| Total Overheads and Expenses | | 2,817,184 | 3,336,080 |

| Earnings Before Interest, Depreciation and Tax | | 8,760,368 | 8,512,670 |
| Depreciation Expense | 2 | 4,272,946 | 3,780,095 |
| Earnings Before Interest and Tax | | 4,487,422 | 4,732,575 |
| Interest Expense | | 763,366 | 1,087,987 |
| Operating Surplus Before Tax | | 3,724,056 | 3,644,588 |
| Taxation | | 1,263,168 | 1,248,647 |
| Net Surplus After Tax | | $2,460,888 | $2,395,941 |

VUW Te Waharoa — NZ Gazette 2000, No 108

Gazette.govt.nz — NZ Gazette 2000, No 108

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

🏭 Financial Performance Statement for The Power Company Limited (continued from previous page)

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

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