New Zealand Gazette – 2000 – No. 94

Page 2360

✨ Financial Statements

2360
NEW ZEALAND GAZETTE
No. 94

Notes to and Forming Part of the Financial Statements
For the Year Ended 31 March 2000

12 RECONCILIATION OF OPERATING SURPLUS AFTER TAXATION
WITH CASH INFLOW FROM OPERATING ACTIVITIES

Operating surplus after taxation Line Line
2000 1999
$000 $000
Add (less) non cash items
Depreciation 14,031 13,075
Movements in deferred taxation 768 (1,646)
14,799 11,429

Movements in working capital
Accounts receivable 7,930 (8,239)
GST payable (354)
Tax refund due (798) (1,071)
Inventories 239 (118)
Accounts payable (1,689) 2,068
5,328 (7,360)

Net cashflow from operating activities $36,991 $17,171

13 SUBSEQUENT EVENTS

Early this year, it was announced that formal negotiations over a possible merger with CentralPower had commenced. The two major shareholders of both companies, Palmerston North City Council and New Plymouth District Council, had indicated their support towards the establishment of a regional energy distribution business. The Boards of both companies expect to make an announcement shortly in relation to the merger discussions.

VUW Te Waharoa — NZ Gazette 2000, No 94

Gazette.govt.nz — NZ Gazette 2000, No 94

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Powerco Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsReconciliation of Operating Surplus, Cash Inflow, Depreciation, Deferred Taxation, Working Capital, Net Cashflow, Subsequent Events, Merger, CentralPower, Regional Energy Distribution

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