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

 

Crown Research Institute Sales Up

Crown Research Institute Statistics: Year ended 30 June 2004

2 December 2004

Crown Research Institute Sales Up

New Zealand's nine Crown Research Institutes (CRIs) earned $256.8 million in sales during the year ended 30 June 2004, Statistics New Zealand figures show. This is an increase of $22.1 million on the previous June year. The CRIs received $265.2 million in government funding for the year, a decrease of $10.7 million on the June 2003 year. Total revenue increased by 2.3 percent to $532.2 million.

CRI operating expenses increased by $9.8 million to reach $519.2 million for the year ended June 2004. Employee costs were the main contributor to the increase, rising $7.7 million to reach $264.3 million. In the year ending June 2004, the surplus before tax and non-operating items for the nine CRIs was $13 million, an increase of $2.4 million compared with the previous year. After tax and non-operating items, the CRIs recorded a $13.3 million surplus. This is an increase of $4.3 million compared with the June 2003 year.

The value of total assets at the end of June 2004 was $467.1 million, $30.8 million more than the value recorded a year earlier. This was mainly the result of a $18.9 million increase in current assets and a $14.2 million increase in fixed assets. The level of investments remained relatively unchanged. Liabilities at the end of June 2004 totalled $149.3 million, up by $10.6 million from the level at June 2003. Current liabilities were $110.8 million and long-term liabilities were $38.5 million. ƒnƒn

As a result of a $30.8 million increase in total assets and a $10.6 million increase in current and term liabilities, taxpayer equity in the CRIs rose by $20.2 million to reach $317.8 million.

Brian Pink

Government Statistician

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>