Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Crown Research Institutes' Sales Up

Crown Research Institute Statistics: Year ended 30 June 2000

Crown Research Institutes (CRIs) earned $176.1 million in sales in the year ended June 2000, provisional Statistics New Zealand figures show. This was $19.8 million more than they earned in the year ended June 1999.

Government revenue also increased during the year ended June 2000, by $9.9 million, while interest revenue decreased for the second consecutive year, down $1.0 million to $2.4 million. All other revenue increased from $4.5 million in 1999 to $6.2 million in 2000.

While revenue rose in the latest year, operating expenses also increased for the nine CRIs. Total operating expenses for the year ended June 2000, at $423.4 million were $31.1 million higher than in the June 1999 year. This is the largest increase since the June 1996 year. Employee costs rose from $207.0 million in the June 1999 year, to $214.5 million in the June 2000 year, an increase of 3.6 per cent. Other expenses increased by $22.7 million and depreciation increased by $1.0 million or 3.1 per cent.

The surplus before tax and non-operating items totalled $26.8 million for the June 2000 year, a decrease of $0.7 million on the previous year. However after tax and non operating items, the CRIs recorded a $15.7 million surplus. This was a $4.1 million increase on the surplus recorded in the June 1999 year.

During the June 2000 year the Crown Research Institutes acquired an additional $53.5 million of fixed assets and disposed of $12.1 million of their fixed capital items. The value of the CRI's fixed assets rose by $14.8 million to $270.5 million during the year. Current assets increased from $94.6 million to total $100.2 million. Investments also rose $4.1 million to total $9.5 million. Total assets at 30 June 2000 were $395.7 million, an increase of $26.2 million on the June 1999 year.

Taxpayers' equity in the Crown Research Institutes increased by 8.7 per cent, or $23.6 million on the June 1999 year, to total $294.1 million at the end of June 2000. This increase is mainly a result of accumulated surpluses.

Liabilities at the end of June 2000 totalled $101.6 million, an increase of $2.6 million from June 1999. This consisted of current liabilities of $83.0 million and long term liabilities of $18.6 million.

Brian Pink GOVERNMENT STATISTICIAN

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>