Surplus in spite of high costs
The Central Canterbury Electric-Power Board made a gross surplus of SI.6M last year, according to the bal-ance-sheet published at the board’s meeting yesterday. Its accumulated surplus for the year which ended on March 31, was almost S2M. This was made up of a net surplus of $1,063,860, a balance from the previous year of $844,953, property and car sales of $19,050, and $56,952 transferred from the
depreciation fund —- in all, $1,984,816. The board sold $6,523,831 worth of electricity, compared with $4,469,280, the previous year. For this, it paid $3,741,627, compared With $2,241,259 —an increase of 71.5 per cent. The number of units sold rose 2 per cent to 297,327,849. The board estimates a 41 per cent increase in revenue for electricity sales this year (1977-78), to $9,143,000. It expects to pay $5,469,900, an increase of 46 per cent.
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Press, 20 July 1977, Page 2
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144Surplus in spite of high costs Press, 20 July 1977, Page 2
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