Asset sales boost
power profit
Selling assets like the old Ohakune depot and clearing the stock from the former Taumarunui Brightspot Appliance Centre helped King Country Energy lift its net profit for 1990-91. The board finished the year with a $234,922 after tax profit but $125,873 of this came from asset saies, according to the draft accounts tabled at the June board meeting. General manager Peter Till told the directors that the end result was "quite pleasing" in that it matched almost exactly the predicted outcome. The only area of major overexpenditure was with the renovations to the Kuratau Power Station, with unexpected repairs being required at the time of repainting the penstocks. Minor over expenditure occurred in the administration area, mainly due to increased marketing costs, while
the engineering and maintenance budget was underspent. Electricity saies to-
talled $9.1 million while interest on investments returned just under $1.2 million.
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Ruapehu Bulletin, Volume 9, Issue 392, 25 June 1991, Page 9
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150Asset sales boost power profit Ruapehu Bulletin, Volume 9, Issue 392, 25 June 1991, Page 9
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