Port Nelson Annual Report 2007 (pdf)

I N C O M E S T A T E M E N T
f o r t h e Y e a r E n d e d 3 0 J u n e 2 0 0 7
R E V E N U E
Notes 2007 2006
$000 $000
Operations 27,864 25,364
Property 5,159 4,902
TOTAL REVENUE 1 33,023 30,266
E X P E N S E S
Operations and Property 20,767 18,673
Financing 2,513 1,564
TOTAL EXPENSES 2 23,280 20,237
O P E R A T I N G S U R P L U S 9,743 10,029
Reversal of Prior Year Building Asset Write Down Impairment - 699
NET SURPLUS BEFORE TAXATION 9,743 10,728
Less Taxation Expense 3 3,018 3,141
N E T S U R P L U S 6,725 7,587
S T A T E M E N T O F M O V E M E N T S I N E Q U I T Y
f o r t h e Y e a r E n d e d 3 0 J u n e 2 0 0 7
2007 2006
$000 $000
Opening Equity 128,405 128,380
Movements in Hedging Reserve 6h 812 139
Revaluations 6f 2,563 -
Net Surplus 6,725 7,587
Total Recognised Revenues and Expenses for the Period 10,100 7,726
Distribution to Owners 6b (3,900) (7,700)
Share Repurchase 6a (25,000) -
C L O S I N G E Q U I T Y 109,605 128,405
2 2
The Statement of Accounting Policies and Notes to the Accounts on pages 26 to 42 form part of these Financial Statements.