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Statement of Comprehensive Income

For the period ended 30 June 2020

Notes

2020 $’000

2019 $’000

Original Budget 2020 $’000

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

13,553

13,275

14,908

Research and development

1.1B

182,335

174,044

205,583

Suppliers

1.1C

16,861

16,611

-

Depreciation and amortisation

2.2A

5,668

2,535

3,181

Finance costs

1.1D

176

-

-

Losses from asset sales

1.1E

102

14

-

Other expenses

1.1F

44

-

-

Total expenses

218,739

206,479

223,672

Own-source Income

Own-source revenue

Revenue from contracts with customers

1.2A

10,811

-

-

Industry contributions

1.2K

95,767

114,171

128,902

Interest

1.2B

4,358

6,907

5,222

Project refunds

1.2C

1,486

3,947

1,122

Royalties

1.2D

-

7,142

4,000

Grants income

1.2E

-

3,165

200

Dividends

1.2F

1,207

1,560

1,200

Rental income

1.2G

170

142

-

Other revenue

1.2H

65

521

-

Total own-source revenue

113,864

137,555

140,646

Gains

Other gains

1.2I

-

83

-

Total gains

-

83

-

Total own-source income

113,864

137,638

140,646

Net cost of services

(104,875)

(68,841)

(83,026)

Revenue from Government

1.2J

59,362

69,350

70,102

Share of associates and joint ventures accounted for using the equity method

2.1C

(417)

(251)

-

(Deficit) / Surplus

(45,930)

258

(12,924)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation reserve

(95)

-

-

Items subject to subsequent reclassification to net cost of services

(Losses)/gains on financial assets at fair value through other comprehensive income

1.3A

(830)

11,814

-

Total other comprehensive (loss) / income

(925)

11,814

-

Total comprehensive (loss) / income

(46,855)

12,072

(12,924)

The above statement should be read in conjunction with the accompanying notes.

Visit

https://www.transparency.gov.au/annual-reports/grains-research-and-development-corporation/reporting-year/2019-20-18