Government businesses make $20M on assets worth $45B in 2012-13

Wed, 18 Dec 2013

By Pattrick Smellie Dec. 18 (BusinessDesk) – Government businesses with assets worth $45 billion made a total net profit of just $20 million in the year to June 30, according to the Treasury’s annual portfolio report. The assets do not include Meridian Energy, Air New Zealand and MightyRiverPower, which were partially privatised, but cover such troubled entities as KiwiRail, Solid Energy and New Zealand Post, which are all struggling to make their business models work. The annual review covers Crown-owned assets valued at $125 billion, some...

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