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


Crown Research Institutes Remain in Surplus

Crown Research Institutes Remain in Surplus

The surplus after tax and non-operating items for New Zealand's nine Crown Research Institutes (CRIs) was $11.6 million, for the year ended 30 June 2003, according to Statistics New Zealand. This was an increase of $1.0 million, when compared with the June 2002 year.

In the year to 30 June 2003, total income received by the nine CRIs increased by $8.6 million to reach $520.1 million. Sales revenue, up $10.1 million, was slightly offset by a $3.9 million fall in Government revenue. Interest revenue also fell, down $1.4 million, while all other income rose $3.8 million, compared with the June 2002 year.

CRIs' operating expenses increased by $16.9 million to reach $504.9 million for the year ended June 2003. Employee costs were the main contributor to the increase, rising $9.3 million to reach $256.6 million.

The value of total assets at the end of June 2003 was $436.3 million, an $8.3 million increase on June 2002. Current assets rose $2.5 million to $115.8 million, while the level of investments fell $2.6 million to $4.8 million. The value of CRIs' fixed assets increased, up $7.9 million to reach $296.4 million.

Total liabilities remained relatively unchanged, at $138.7 million, at the end of June 2003. As a result of this, taxpayers' equity in CRIs rose by $7.7 million to reach $297.6 million at the end of June 2003.

Brian Pink
Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


Department Of Conservation: Beech Mast On The Cards After Warm Summer

Climate modelling shows this year’s hot March has increased the chance of beech forest seeding next summer in parts of New Zealand, which could be bad news for native wildlife. The Department of Conservation (DOC) uses data from NIWA’s virtual climate ... More>>

Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Geo40: Global Plans To Recover Low-Carbon Lithium At Scale Accelerated By Investment Of Up To $7.5m By Pacific Channel

New Zealand’s leading sustainable, mineral-recovery company, Geo40 Limited has secured up to $7.5m in equity investment from New Zealand deep-tech specialist Venture Capital firm Pacific Channel to fast-track plans to develop its nascent lithium-from-geothermal-fluid ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>