2018 Half Yearly Report
At the half year stage NIWA’s revenue, profit and cash flow metrics are close to budget, with variances being within the normal phasing variation experienced each year relating to the mix of work performed from month to month.
All science objectives as outlined in the 2018/19 Statement of Corporate Intent are on track, and good progress has been made with the implementation of initiatives to improve NIWA’s operational efficiency and effectiveness.
An ongoing focus on collaborating with other science providers has strengthened NIWA’s research capability and supported the application of NIWA’s science to industry and government agencies, as illustrated below.
Download the Half Yearly Report for the six months ended 31 December 2018 [PDF 1.5MB]
NIWA’s turnover at $74.876 million was $6.043 million higher than the same period last year while being slightly behind the budgeted revenue of $75.601 million. Profit after taxation of $0.814 million was $0.131 million below budget.
Although slightly lower than budget, expenses were $3.886 million higher than during the same period last year. This was due to higher science staff numbers as well as increased spending on materials and supplies, both driven by the revenue growth noted above.
As at 31 December 2018 NIWA’s cash balance was $16.792 million (including other short-term investments) compared with a budget projection of $24.060 million. This difference was due both to the timing of capital purchases and a lower than budgeted opening cash balance for the year.