Smaller surplus for CRIs

Last updated 12:03 06/12/2013

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Crown research institutes ran a collective operating surplus of $24.1 million in the June year, about $6 million smaller than the previous year.

The institutes' operating income, mainly from government funding to provide core services, increased 2 per cent from last year, to $709.6m, according to figures released today.

Spending on core services rose 3.1 per cent to $685.5m. The largest contributor to the increase in operating income was government revenue, up $11.2m.

The bottom-line profit for institutes was $26m, up $2.1m from the previous June year.

That included valuation gains and losses, payment of dividend, profits and losses on sales of fixed assets, and income tax.

The eight Crown research institutes are: AgResearch, Callaghan Innovation (formerly Industrial Research Limited), Institute of Environmental Science and Research, Institute of Geological and Nuclear Sciences, Landcare Research New Zealand, National Institute of Water and Atmospheric Research, New Zealand Forest Research Institute, The New Zealand Institute for Plant & Food Research.

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- © Fairfax NZ News

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