Crown research institutes' surplus continues to grow

Crown research institutes’ operating surplus was $30.2 million in the year ended 30 June 2012, Statistics New Zealand said today. Their operating surplus was $4.4 million larger than the year ended June 2011, when income exceeded spending by $25.9 million.

After allowing for valuation gains and losses, payment of dividend, profits and losses on sales of fixed assets and income tax, Crown research institutes recorded a total comprehensive income (a bottom line) of $23.9 million. This surplus is $1.9 million greater than in 2011. 

Crown research institutes’ operating income (funding earned to provide core services) increased by 1.6 percent compared with the year ended June 2011, to $695.5 million. Spending on core services rose 1.0 percent to $665.2 million. The largest contributor to the increase in operating income was government revenue, which increased by $12.8 million. Employee costs (up $5.6 million) were the largest contributor to the increase in operating expenses.

Crown research institutes reduced their liabilities by 10.6 percent, to $205.4 million at 30 June 2012. Their total assets grew by 0.3 percent in value, to $732.0 million. Total equity (difference between assets and liabilities) increased by 5.3 percent, up $26.5 million.

See also:  Crown Research Institute Statistics: Year ended 30 June 2012  –  Information release