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1996/97 STATE TRANSIT ANNUAL REPORT



Income and Expenditure Statement

For year ended 30 June 1997
  Note
 
1997
$000
1996
$000
Income 2(i) 364,228 336,653
Expenditure 2(ii) 363,152 326,145
Operating profit before abnormal items and income tax   1,076 10,508
Abnormal items 2(iii) (5,058) ----
Operating profit/(loss) before income tax   (3,982) 10,508
Income tax expense (benefit) attributable to operating profit (loss) 3 (2,536) 3,783
Operating profit/(loss) after income tax   (1,446) 6,725
Accumulated funds at the beginning of the financial year   55,829 52,476
Adoption of tax effect accounting   (3,411)  
Transfer from reserve 13 3,296 1,805
Total available for appropriation   54,268 61,006
Dividend payable 4 ---- 5,177
Accumulated funds at the end of the financial year   54,268 55,829

The accompanying notes form an integral part of these financial statements.



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