New Zealand Gazette – 1997 – No. 105

Page 2463

✨ Financial Performance Measures



NEW ZEALAND GAZETTE

26 AUGUST

KING COUNTRY ENERGY LIMITED

FINANCIAL PERFORMANCE MEASURES

As at 31 March 1997

1. (a) Accounting Return on Total Assets

Earnings before Interest and Tax, divided by Average Total Funds Employed.

| Note | 1995
$'000 | 1996
$'000 | 1997
$'000 |
|------|----------------|
|-------|----------------|
| Earnings before Interest and Tax | 523 | 1,405 | 1249 |
| Total Funds Employed Last Year | 28,565 | 28,193 | 27695 |
| Total Funds Employed This Year | 28,193 | 27,695 | 28269 |
| Average Total Funds Employed | 28,379 | 27,944 | 27982 |

Accounting Return on Total Assets | 1 | 1.84% | 5.03% | 4.46%

(b) Accounting Return on Equity

Net Profit after Tax, divided by Average Total Shareholders Funds.

| | 1995
$'000 | 1996
$'000 | 1997
$'000 |
|----|----------------|----------------|----------------|
| Net Profit after Tax | 520 | 1,222 | 867 |
| Shareholders' Funds Last Year | 28,565 | 28,193 | 27695 |
| Shareholders' Funds This Year | 28,193 | 27,695 | 28269 |
| Average Shareholders Funds | 28,379 | 27,944 | 27982 |

Accounting Return on Equity | 1 | 1.83% | 4.37% | 3.10%

(c) Accounting Rate of Profit

| | 1995
$'000 | 1996
$'000 | 1997
$'000 |
|----|----------------|----------------|----------------|
| Earnings Before Interest and Tax | 523 | 1,405 | 1249 |
| Less Cash Tax | -5 | -281 | -317 |
| Less Interest Tax Shield | 0 | 0 | 0 |
| Plus Revaluation's | -557 | 407 | -296 |
| | -39 | 1,531 | 636 |
| Average Total Funds Employed, minus half the amount of revaluation's | 28,657 | 27,741 | 28130 |

Accounting Rate of Profit | 2 | -0.14% | 5.52% | 2.26%

(d) Lines Business

Fixed Assets at Optimised Deprival Value (ODV) $m

| | | |
|----|----------------|----------------|----------------|
| ODV Audited Valuation Report Date | 25.30 | 25.29 | 25.34 |
| Network ODV at Audited Valuation Report Date $m | 31/03/94 | 31/03/94 | 31/03/97 |
| | 22.46 | 22.46 | 23.35 |

Note 1 - Accounting Return on Total Assets & Accounting Return on Equity for the 1996 year has been restated due to the discovery of an addition error in the calculation of the Non System Expenditure.

Note 2 - Accounting Rate of Profit for the 1996 year has been restated due to an error in the calculation of Revaluations.



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✨ LLM interpretation of page content

🏭 Certification of Performance Measures by Auditors for King Country Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
28 July 1997
Financial Performance, Efficiency Measures, Electricity Regulations, Auditors Certification