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

 

Surplus for Crown research institutes

3 December 2007

Surplus for Crown research institutes

New Zealand's nine Crown research institutes (CRIs) reported a collective operating surplus of $16.7 million in the year ended June 2007, Statistics New Zealand said today. Lower net income from profit on sale of fixed assets and extraordinary items resulted in a decline in CRI collective surplus before taxation when compared with the year ended 30 June 2006. This surplus fell from $27.6 million to $23.3 million.

Total operating income increased $27.7 million to $600.7 million in the year to 30 June 2007. CRIs received $303.6 million in government funding for the year (representing a $20.0 million increase on the previous June year) and earned $279.1 million in sales (up $11.4 million). In contrast, interest revenue and all other income declined between 2006 and 2007.

Total CRI operating expenses increased $14.6 million to reach $584.0 million in the year ended 30 June 2007. Employee costs totalled $289.8 million (up $6.4 million) while all other expenses were $250.1 million (up $8.5 million). Depreciation and interest paid both declined marginally.

Taxpayers' equity in the CRIs rose to $346.3 million at 30 June 2007, up from $323.7 million at 30 June 2006. Current and long-term liabilities totalled $175.0 million at 30 June 2007, up $17.3 million from the previous year. Current liabilities totalled $118.1 million (down $3.7 million) while long-term liabilities totalled $56.9 million (up $21.0 million).

The value of total assets at 30 June 2007 was $521.3 million, $39.9 million more than the value at 30 June 2006. The value of fixed assets increased $25.6 million to $337.4 million, while the value of investments rose $17.3 million to $22.7 million. Geoff Bascand Government Statistician

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: