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