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
END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>



REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>



Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>



ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>


Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>