ELECTRICAL AND MECHANICAL SERVICES TRADING FUND
PROFIT AND LOSS ACCOUNT
For the year ended 31 March 1998

		Year ended 31 March 1998 $000		Eight months ended 31 March 1997 $000
Revenue (note 3)		2,653,690		1,669,915
Operation costs (note 4)		(2,351,010)		(1,477,343)
Operating profit		302,680		192,572
Other income (note 5)		36,753		8,800
Interest expenses (note 6)		(26,416)		(22,791)
Profit before taxation		313,017		178,581
Provision for taxation (note 7)		(51,476)		(29,466)
Profit after taxation		261,541		149,115
Dividend (note 8)		(78,462)		(44,735)
Profit retained		183,079		104,380
Rate of return on fixed assets (note 9)		28.8%		16.8%
The notes on pages 68-72 form part of these accounts

HUGH PHILLIPSON
General Manager, Electrical and Mechanical Services Trading Fund
3 September 1998