SYDNEY PORTS CORPORATION ANNUAL REPORT 12

42
BeGinninG oF audited FinanCiaL StateMentS
Sydney PortS CorPoration
StateMent oF CoMPrehenSive inCoMe
For the year ended 30 June 2012
Sydney PortS CorPoration finanCial rePort 2011/12
note
CorPoration ConSolidated* CorPoration
Revenue
Revenue from operating activities 3 236,907 218,959 217,145
Other revenue 3 39,591 36,626 38,958
Total revenue
Expenses
276,498 255,585 256,103
Employee benefits expense 4 (46,816) (41,488) (41,498)
Depreciation and amortisation expense 4 (32,262) (23,935) (23,888)
Other expenses 4 (73,317) (71,493) (71,258)
Finance costs 4 (48,599) (13,810) (13,810)
Total expenses (200,994) (150,726) (150,454)
Profit before income tax equivalent expense 75,504 104,859 105,649
Income tax equivalent expense 5(a) (23,059) (31,371) (31,349)
Net profit for the year
Other comprehensive income/(expense)
52,445 73,488 74,300
Fair value revaluation of property, plant and equipment 9(d) 49,704 73,361 73,361
Transferred to finance costs – profit or loss 14(c) 1,777 61 61
Transferred to finance costs – construction in progress 14(c) 53 1,655 1,655
Superannuation actuarial losses
Income tax equivalent expense on items of other
15(e) (31,864) (458) (458)
comprehensive income
Other comprehensive income for the year,
5(b) (5,884) (22,401) (22,401)
net of income tax equivalent expense 13,786 52,218 52,218
Total comprehensive income for the year 66,231 125,706 126,518
The accompanying notes form an integral part of the financial statements.
* The 2011 consolidated statement of comprehensive income includes two months results of operations of Sydney Pilot Service Pty Ltd which
was a former wholly owned subsidiary of the Corporation. The vessel pilotage business of Sydney Pilot Service Pty Ltd was transferred to
the Corporation on 1 September 2010. On 30 June 2011 Sydney Pilot Service Pty Ltd ceased to be a legal entity and was deregistered with the
Australian Securities and Investments Commission (ASIC).
2012
$000
2011
$000
2011
$000