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Crown Research Institutes' Revenue Increases

Crown Research Institute Statistics: Year ended 30 June 2001

Crown Research Institutes' Revenue Increases

New Zealand's nine Crown Research Institutes (CRIs) earned revenue of $484.4 million in the year to 30 June 2001, provisional Statistics New Zealand figures show. This was an increase of $34.2 million compared with the previous June year and was mainly the result of a $30.5 million rise in sales revenue, to $206.6 million.

In the year to June 2001, revenue from Government was almost unchanged compared with the previous year. Revenue from this source was $266.0 million compared with the $265.5 million recorded a year earlier.

CRIs' operating expenses also increased during the year to 30 June 2001. Total operating expenses rose $33.7 million to reach $457.1 million. Employee costs increased 5.6 percent in the June 2001 year, from $214.5 million to $226.5 million. Other expenses increased by $19.5 million to reach $196.1 million, and depreciation rose from $31.4 million to $33.7 million.

For the year ended June 2001, the surplus before tax and non-operating items for the nine CRIs was $27.3 million, an increase of $0.5 million compared with the previous year. After tax and non-operating items, the CRIs recorded a $21.9 million surplus. This was an increase of $6.7 million compared with the June 2000 year.

Taxpayers' equity in the CRIs rose by $25.1 million to reach $319.2 million in the latest June year, compared with $294.1 million the previous year. This increase is mainly a result of accumulated surpluses.

Liabilities at the end of June 2001 totalled $119.5 million, up from $101.6 million at June 2000. Current liabilities were $99.0 million and long-term liabilities were $20.5 million.

During the year ended June 2001, Crown Research Institutes acquired a net $35.7 million of fixed assets. The value of the CRIs' fixed assets increased by 3.3 percent to $279.5 million during the year. Over the same period, current assets increased 30.6 percent to reach $120.2 million. Investments also rose, from $17.7 million to $19.2 million. Total assets at the end of June 2001 were $438.7 million, up from $395.7 million a year earlier.

Brian Pink Government Statistician END

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