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New Zealand Gazette – 1992 – No. 97

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✨ Telecom South Limited Financial Statements

29 JUNE NEW ZEALAND GAZETTE 2269

TELECOM SOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

10 SHAREHOLDERS' EQUITY (Continued)

RETAINED EARNINGS

	1992	1991
	$000's	$000's
Balance at beginning of year	30,438	7,903
Net earnings	60,526	50,224
	90,964	58,127
Transfer to capital redemption reserve	(2)	-
Dividends	(46,823)	(27,689)
Balance at end of year	44,139	30,438

DIVIDENDS

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

	1992	1991
	$000's	$000's
Interim dividends	46,823	27,689
Final dividend	-	-
	46,823	27,689

11 COMMITMENTS

OPERATING LEASES

Operating lease commitments are mainly in respect of leases of land and buildings. Minimum rental commitments as at 31 March 1992 for all non-cancellable operating leases are:

(in millions)
Payable within 1 year
Payable within 1-2 years
Payable within 2-3 years
Payable within 3-4 years
Payable within 4-5 years
Payable thereafter
Total

CAPITAL COMMITMENTS

As at 31 March 1992 capital expenditure amounting to $21.8 million (31 March 1991: $32.4 million) has been committed under contractual arrangements.

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VUW Te Waharoa — NZ Gazette 1992, No 97

NZLII — NZ Gazette 1992, No 97

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
Dated27 May 1992
KeywordsFinancial Statements, Retained Earnings, Dividends, Operating Leases, Capital Commitments, Rental Commitments

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