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1431-P1

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Note 16: Retained Earnings

		GROUP		PARENT
	Note	2014 $000	2013 $000	2014 $000	2013 $000

Balance at beginning of year		359,317	361,350	352,842	357,401
Profit for the year		115,121	123,351	108,684	120,825
Transfer (to)/from revaluation reserve	15	266	63	266	63
Dividends on ordinary shares	12	(125,276)	(125,447)	(125,276)	(125,447)
		349,428	359,317	336,516	352,842

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For customer service queries:

0800 87 87 87

Or to join Trustpower now:

0800 36 98 45