Financial Notes and Disclosures




29 AUGUST NEW ZEALAND GAZETTE 2585

Notes to the Accounts

Both the Statement of Financial Performance and Statement of Financial Position are reconcilable to Southpower’s published Annual Report after adjusting for the revenues, costs, assets and liabilities attributable to the business units and related companies that are not covered by the disclosure requirements of these Regulations.

  1. Operating surplus before taxation

The operating surplus before tax includes the following expense items:

Years ending 31 March 1997 Line Business $000’s 1996 Line Business $000’s 1997 Electricity Related Businesses $000’s 1996 Electricity Related Businesses $000’s
Depreciation 11,013 10,157 896 1,175
Interest on mandatory convertible notes 6,101 6,101 - -
Net other interest expense/(income) (1,574) (493) (75) (617)
Severances and restructuring expenditure 730 716 779 968


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