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


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

© Scoop Media

Business Headlines | Sci-Tech Headlines


Income Equality: Time To Double-Down On Cutting CEO Salaries

With reports of a slow-down in CEO pay rises last year, it’s time for Kiwi corporates to double down on cutting excessive salaries to ensure this is a trend not an accident, said Peter Malcolm, spokesperson for the income equality project Closing the Gap. More>>

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>


Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>