✨ Financial Statements




9 OCTOBER

NEW ZEALAND GAZETTE

WEL ENERGY GROUP LIMITED

LINES BUSINESS

Unadjusted Financial Statements 1995 ($000s) Adjusted for Performance Measures 1995 ($000s)
Statement of Financial Performance
Distribution Revenue 41,642 41,642
less
Transmission Charges & Line Losses 14,695 14,695
System Expenditure 6,361 6,361
Non-System Expenditure 4,351 4,351
Depreciation 1) 3,631 5,312
Earnings before Interest and Tax 12,604 10,923
Interest expense - -
Net profit before tax 12,604 10,923
less
Tax 2) 4,559 4,542
Net profit after tax 8,045 6,381
less
Dividend Declared 6,937 6,937
Transfer to Retained Earnings 1,108 (556)

WEL Energy Group accounts for its distribution system by using the full depreciation accounting methodology.

  1. Depreciation has been adjusted to reflect the ODV valuation of the distribution system.

  2. Tax has been adjusted to reflect cash paid.

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Financial Statements, Distribution Revenue, Depreciation, Net Profit, Dividend, Retained Earnings, WEL Energy Group Limited