2744 NEW ZEALAND GAZETTE No. 101

                                                                                       2002                2001
                                                                                       $000                $000

(p) Directors’ fees: 74 62

(q) Auditors’ fees:
(i) Audit fees paid to principal auditors: 30 27
(ii) Audit fees paid to other auditors: - -
(iii) Fees paid for other services provided by principal and other auditors: 118 12

Total Auditors’ fees: 148 39

(r) Costs of offering credit:
(i) Bad debts written off: 1 7
(ii) Increase in estimated doubtful debts: - (11)

Total cost of offering credit: 1 (4)

(s) Local authority rates expense: 3 6

(t) AC loss-rentals (distribution to retailers/customers) expense: - -

(u) Rebates to consumers due to ownership interest: - -

(v) Subvention payments: - -

(w) Unusual expenses: 96 -

(x) Other expenditure not listed in (a) to (w) - 229

Total operating expenditure 3,529 8,186

Operating surplus before interest and income tax 5,118 4,354

Interest expense
(a) Interest expense on borrowings - -
(b) Financing charges related to finance leases - -
(c) Other interest expense 16 -

Total interest expense 16 -

Operating surplus before income tax 5,102 4,354

Income tax 1,519 554

Net surplus after tax 3,583 3,800