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OUR FINANCIAL POSITION
REVENUE
Total revenue for 2007-08 was $162.9 million – an increase of 0.7% on 2006-07 ($161.8 million). This was largely attributable to an increase in other income with Government grants up $1.6 million, Research & Development Partnership contributions through the MLA Donor Company up $1.6 million and an increase in co-operative funding for both marketing and R&D up $1.1 million.
Offsetting these increases was a significant fall in levy income of $4.3 million with grassfed levies down $2.6 million and grainfed down $2.1 million. Lamb levies were slightly up year-on-year.
View the Revenue for 2007-08 pie chart
EXPENDITURE
Total expenditure for 2007-08 was $157.1 million – a decrease of 1.5% on 2006-07 ($159.5 million).
Research and development expenditure totalled $69.0 million down from $71.3 million in 2006-07 as a result of the fall in levy income and the need to rebuild research and development reserves back to the benchmark.
Marketing expenditure of $88.1 million was in line with previous year's expenditure.
View the Expenditure for 2007-08 pie chart
View the R&D and marketing expenditure over five years bar chart
REVENUE OVER FIVE YEARS
The increase in revenues in 2005-06 and 2006-07 relates to the $1.50 increase in the cattle transaction levy.
View the revenue over five years bar chart
| STRATEGIC IMPERATIVE | 2007–08 $m | 2006–07 $m |
|---|---|---|
| Increasing market access | 23.8 | 23.2 |
| Growing demand | 62.8 | 66.8 |
| Enhancing productivity and sustainability | 31.1 | 34.8 |
| Increasing industry capability | 10.0 | 10.8 |
| R&D partnerships* | 16.3 | 12.0 |
| Corporate services | 9.2 | 8.7 |
| Corporate communications | 3.9 | 3.2 |
*Includes $1.4 million (2007: $0.6 million) in total expenditure relating to Plant Initiated Projects funded by AMPC (on behalf of processors) and government matching funds.
RETAINED SURPLUS
An excess of revenue over expenditure during the year resulted in a surplus of $5.8m, compared to a surplus of $2.2m in 2006–07. The retained surplus as at 30 June 2008 was $37.9m, $5.8m up on last year ($32.1m). This surplus is broken down by species as follows:
| Grassfed cattle | $18.9m |
| Grainfed cattle | $ 3.9m |
| Lambs | $12.7m |
| Sheep | $1.7m |
| Goats | $0.8m |
More detailed information can be found in the Financial report.
