Financial Performance Measures




10 SEPTEMBER NEW ZEALAND GAZETTE 2899

WESTPOWER LIMITED

REGULATIONS 13 & 14
FIRST SCHEDULE PART II

LINES BUSINESS FINANCIAL AND EFFICIENCY PERFORMANCE MEASURES

| | For Year Ended | For Year Ended |
| | 31 March 1996 | 31 March 1995 |

1. Financial performance measures

(a) Accounting return on total assets = 7.28% 8.25%

(b) Accounting return on equity = 5.16% 6.74%

(c) Accounting rate of profit = 19.89% 6.71%

EBIT - cash tax - interest tax shield + revaluations = 5,872 1,818
Average total funds employed - half revaluations 29,523 27,073

  • EBIT 2,296 2,234
  • Cash Tax (228) (220)
  • Interest tax shield
    Net interest expense
    @ tax rate 33% (242) (197)
  • Revaluations 4,046 0
    5,872 1,818

Average total funds employed 31,546 27,073

2. Efficiency performance measures

(a) Direct line costs per kilometre * = $2,163.77 $2,052.93

(b) Indirect line costs per electricity customer = $126.26 $134.70

  • 1995 figure has been restated to adjust for the removal of services and lines owned by generator

The Optimised Deprival Value of Westpower Limited’s Line Business Network Assets as at 31 March 1996 was $32.671 million.



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💰 Certification of Performance Measures by Auditors (continued from previous page)

💰 Finance & Revenue
23 August 1996
Audit, Performance Measures, Financial Performance, Efficiency Performance, Electricity Regulations