Condensed Interim Statement of Comprehensive Income
2
Condensed Interim Balance Sheet
3
Condensed Interim Statement of Changes in Equity
5
Condensed Interim Statement of Cash Flows
6
Notes to the Condensed Interim Financial Statements
7
Corporate Directory
17
Condensed Interim Income Statement
FOR THE SIX MONTHS ENDED 30 JUNE 2016 (UNAUDITED)
GROUP 30 JUNE
2016
GROUP 30 JUNE
2015
NOTE
$000
$000
INCOME
Operating revenue
2
155,261
203,197
Other income
383
657
Other gains
-
112
TOTAL INCOME
155,644
203,966
EXPENSES
Purchase of process materials and utilities
36,786
28,362
Materials and contractor payments
11,766
13,165
Wages, salaries and benefits
26,779
23,671
Depreciation and disposal costs
41,252
34,283
Other operating (gains)/losses
(85)
158
Administration and other costs
17,107
12,931
TOTAL EXPENSES
133,605
112,570
NET PROFIT BEFORE FINANCE COSTS
22,039
91,396
FINANCE COSTS
Finance income
(104)
(46)
Finance cost
9
7,771
673
NET FINANCE COSTS
7,667
627
Net profit before income tax
14,372
90,769
Less income tax
2,762
25,411
NET PROFIT AFTER INCOME TAX
11,610
65,358
ATTRIBUTABLE TO:
Owners of the Parent
11,446
65,245
Non-controlling interest
164
113
11,610
65,358
EARNINGS PER SHARE FOR PROFIT ATTRIBUTABLE TO THE SHAREHOLDERS OF REFINING NZ
CENTS
CENTS
Basic earnings per share
3.71
20.91
Diluted earnings per share
3.71
20.91
THE ABOVE CONDENSED INTERIM INCOME STATEMENT IS TO BE READ IN CONJUNCTION WITH THE ACCOMPANYING NOTES.
Condensed Interim Statement of Comprehensive Income
FOR THE SIX MONTHS ENDED 30 JUNE 2016 (UNAUDITED)
GROUP 30 JUNE
2016
GROUP 30 JUNE
2015
NOTE
$000
$000
NET PROFIT AFTER INCOME TAX
11,610
65,358
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to the Income Statement
Defined benefit actuarial (loss)/gain
10
(21,699)
7,934
Deferred tax on defined benefit actuarial loss/(gain) that will
not be reclassified to the Income Statement
6,076
(2,221)
Total items that will not be reclassified to the Income
Statement
(15,623)
5,713
Items that may be subsequently reclassified to the Income Statement
Movement in cash flow hedge reserve
(5,166)
(3,912)
Deferred tax on movement in cash flow hedge reserve that
may be subsequently reclassified to the Income Statement
1,446
1,095
Total items that may be subsequently reclassified to the
Income Statement
(3,720)
(2,817)
TOTAL OTHER COMPREHENSIVE (LOSS)/INCOME, AFTER INCOME TAX
(19,343)
2,896
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD, AFTER INCOME TAX
(7,733)
68,254
ATTRIBUTABLE TO:
Owners of the Parent
(7,897)
68,141
Non-controlling interest
164
113
(7,733)
68,254
THE ABOVE CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME IS TO BE READ IN CONJUNCTION WITH THE ACCOMPANYING NOTES.
The New Zealand Refining Company Limited published this content on 23 August 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 August 2016 21:29:04 UTC.
Original documenthttp://www.refiningnz.com/media/106095/interim_nz_financial_statements_30_june_2016.pdf
Public permalinkhttp://www.publicnow.com/view/489528D958D4EEA5E32EA22DEA2ECDDBD579C37D
Channel Infrastructure NZ Limited is a New Zealand-based infrastructure company. The Company utilizes its strategic infrastructure located at Marsden Point to import refined fuels, owned by its customers, and distribute this to New Zealand. The Companyâs fuel is stored at the Marsden Point site in existing tanks in the fuel terminal in New Zealand. The fuel from Marsden Point is then distributed primarily to the Auckland and Northland markets through the 170 kilometers Marsden Point to Auckland Pipeline and the truck loading facility located adjacent to the Marsden Point site. The Company operates through two segments: Infrastructure, and Oil Refining. The Infrastructure segment comprises the dedicated fuel import terminal system including jetty infrastructure at Marsden Point, storage tanks, and the Marsden Point to Auckland pipeline. The oil refining segment represents results from refining and pipeline operations and Wiri land.