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City Care - Performance Report 2004 (Page 22)

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City Care - Performance Report 2004
20
21
WAGES PAID
TOTAL TAX PAID
(PAYE, GST, COMPANY)
10.0
8.0
6.0
4.0
2.0
0
2001
2002
2003
2004
$ Millions
25.0
20.0
15.0
10.0
5.0
0
2001
2002
2003
2004
Direct
Agency
$ Millions
12
10
8
6
4
2
0
-2
-4
Serco
Sicon
Techscape
Fulton
City Care
Hogan
Per
centage
EBIT/REVENUE
2001
2002
2003
2004
25
20
15
10
5
0
-5
-10
Serco
Sicon
Techscape
Fulton
City Care
Hogan
Per
centage
EBIT/TOTAL ASSETS
2001
2002
2003
2004
25
20
15
10
5
0
-5
-10
Serco
Sicon
Techscape
Fulton
City Care
Hogan
Per
centage
RETURN ON EQUITY
2001
2002
2003
2004
FEB-04: 13 City Care staff begin
work on New Plymouth District
Council contract.
FEB-04: 2
nd
Pre-apprentice
programme starts for 24
new young employees.
Long term bank borrowing increased
by $3.2 million to $6.3 million.
The year ended with a ratio of
shareholder funds to total assets at
43% (prior year 52%).
Financial Benchmarking
City Care benchmarks its
performance against competitors
whenever possible. The graphs
above show our relative financial
performance against published and
audited data from key competitors.
Normalised indicators chosen are
return on equity, EBIT/revenue and
EBIT/total assets. This year we have
highlighted the effect of the CCC
price reduction on City Care results.
Economic Contribution
In New Zealand terms, City Care is a
large employer. At the end of the year
we had more than 600 staff. 86% of
these are based in Christchurch. With
the inclusion of payments to agencies
for temporary staff, City Care paid
$20.24 million in wages to staff this
year, an increase of $2.5 million from
the prior year.
City Care also paid tax (PAYE,
GST, FBT and company) of $9.28
million (prior year $8.43 million)
to central government. City Care
received government subsidies from
WINZ, through its ongoing support
for long-term unemployed youth
employed on our pre-apprentice
programme. Support provided is
less than 20% of the cost of
this initiative.
Our shareholder, CCHL received
$1.19 million in dividends in
the year.
City Care continues with its policy to
pay suppliers within agreed payment
terms, and continues to fund
some slow paying local authority
customers. We are not aware of any
suppliers that rely on City Care for
the majority of their business, with
the exception of two consultant
software developers with whom we
have a close relationship.

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