2014 Half Yearly Report

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. NIWA is on target to achieve its 2013/14 budget across each of its key financial ratios and science objectives are on track. 

Download the Half Yearly Report ending 31 December 2014 (PDF 841 KB)

Overview

NIWA is on target to achieve its 2013/14 budget across each of its key financial ratios. At the half year stage revenue, profit and cash flow are all close to or better than budget. All science objectives as outlined in the 2014/15 Statement of Corporate Intent are on track, and excellent 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.

Financial Results

NIWA’s turnover at $61.051 million was ahead of budgeted revenue of $55.793 million. An after taxation profit of $0.592 million was better than budget by $2.463 million. Good progress has been made in securing additional revenue to meet the full year budget, which we continue to monitor closely as we head into the second half of the year. Expenses were $3.837 million higher than during the same period last year, due to higher spending on science collaboration. Despite this, the after taxation profit of $0.592 million was better than budget by $2.463 million. The closing cash position continues to be favourable, being $4.836 million ahead of the budgeted cash balance of $5.180 million.

Overall, NIWA is on target to achieve annual budget across each of its key financial ratios.