New Zealand Gazette – 1997 – No. 120

Page 2857

✨ Financial Statements

9 SEPTEMBER NEW ZEALAND GAZETTE 2857

Notes to and Forming Part of the Financial Statements
For the Year Ended 31 March 1997

18 DISCLOSURE OF PERFORMANCE MEASURES PURSUANT TO REGULATION 13 AND PART II OF THE FIRST SCHEDULE OF THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994

Financial Performance Measures	1997	1996	1995
(i) Accounting Return on Total Assets	11.58%	6.54%	5.49%
(ii) Accounting Return on Equity	9.08%	4.86%	3.75%
(iii) Accounting Rate of Profit	8.08%	4.63%	3.71%

Efficiency Performance Measures

Efficiency Performance Measures	1997	1996	1995
(iv) Direct Line Cost per Kilometre	$1,038.32	$1,232.54	$996.80
(v) Indirect Line Cost per Electricity Customer	$62.80	$91.04	$164.97

19 CONTINGENT LIABILITIES AND COMMITMENTS

There are capital commitments amounting to $810,055 as at balance date. These commitments are for the purchase of transformers and meters, and are normal business transactions.

The company has guaranteed the obligations of its associate company as they relate to energy purchases on its behalf. The shareholders of Energy Brokers New Zealand Limited have made arrangements with its bankers to provide guarantees up to $25 million to enable the said company to trade in the wholesale market. Powerco Limited's exposure for this transaction is restricted to its shareholding proportion of 41%. Since balance date the amount of the guarantee has increased to $40 million.

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VUW Te Waharoa — NZ Gazette 1997, No 120

NZLII — NZ Gazette 1997, No 120

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✨ LLM interpretation of page content

🏭 Powerco Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated31 March 1997
KeywordsFinancial Performance, Efficiency Performance, Contingent Liabilities, Commitments, Powerco Limited

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