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New Zealand Gazette – 1991 – No. 194

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✨ Financial Statements

20 DECEMBER NEW ZEALAND GAZETTE 4049

TELECOM SOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

10. SHAREHOLDERS' EQUITY (Continued)

RETAINED EARNINGS

	30 September		31 March
	1991	1990	1991
	$000's	$000's	$000's
Balance at beginning of period	30,438	7,903	7,903
Net earnings	30,010	18,746	50,224
	60,448	26,649	58,127
Dividends	(27,893)	(3,373)	(27,689)
Balance at end of period	32,555	23,276	30,438

DIVIDENDS

Interim and final dividends declared from the retained earnings of the Company are as follows:

	Six months ended		Year ended
	30 September		31 March
	1991	1990	1991
	$000's	$000's	$000's
Interim dividends	27,893	3,373	27,689
Final dividend	-	-	-
	27,893	3,373	27,689

11. COMMITMENTS

OPERATING LEASES

Operating lease commitments are mainly in respect of leases of land and buildings. Minimum rental commitments as at 30 September 1991 for all non-cancellable operating leases are:

	(in millions)
Payable within 1 year	3.0
Payable within 1-2 years	2.6
Payable within 2-3 years	1.6
Payable within 3-4 years	1.5
Payable within 4-5 years	1.1
Payable thereafter	4.6
	14.4

CAPITAL COMMITMENTS

As at 30 September 1991 capital expenditure amounting to $23.2 million (30 September 1990: $62.0 million, 31 March 1991: $32.4 million) has been committed under contractual arrangements.

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VUW Te Waharoa — NZ Gazette 1991, No 194

NZLII — NZ Gazette 1991, No 194

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Telecom South Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated20 December 1991
KeywordsFinancial Statements, Retained Earnings, Dividends, Operating Leases, Capital Commitments, Telecom South Limited

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