New Zealand Gazette – 1998 – No. 115

Page 2821

✨ Financial Statements



17 AUGUST

NEW ZEALAND GAZETTE

2821

WEL ENERGY GROUP LIMITED

Statement of Financial Performance

For the year ended 31 March 1998

Note Line Business Energy Business
1998 1997 1998 1997
($000s) ($000s) ($000s) ($000s)
Total revenue 1 50,700 47,270 47,131 44,231
Operating expenses 2 (30,568) (29,544) (44,448) (40,502)
Net profit before taxation 20,132 17,726 2,683 3,729
Taxation expense 3 (7,593) (6,805) (885) (1,230)
Net profit after taxation 12,539 10,921 1,798 2,499
Share of surplus of Associate Entity - - (223) 144
Surplus attributable to the shareholders of the parent company 12,539 10,921 1,575 2,643

Statement of Financial Position

As at 31 March 1998

Note Line Business Energy Business
1998 1997 1998 1997
($000s) ($000s) ($000s) ($000s)
Shareholders’ funds 4 134,225 113,157 2,758 2,715

Represented by:

| Current assets | 5 | 13,097 | 7,891 | 7,072 | 4,864 |
| Fixed assets | 6 | 133,934 | 110,880 | 803 | 780 |
| Investments in associates | 7 | - | - | 81 | 1,250 |
| Other non current assets | | 251 | 328 | - | - |
| Total assets | | 147,282 | 119,099 | 7,956 | 6,894 |

| Current liabilities | 8 | 10,130 | 3,509 | 5,187 | 4,168 |
| Deferred taxation | 3 | 2,927 | 2,433 | 11 | 11 |
| Total liabilities | | 13,057 | 5,942 | 5,198 | 4,179 |
| Net assets | | 134,225 | 113,157 | 2,758 | 2,715 |

9 July 1998

These statements are to be read in conjunction with the attached notes and Certification by the Auditor.



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✨ LLM interpretation of page content

🏭 Statement of Financial Performance and Financial Position by WEL Energy Group Limited (continued from previous page)

🏭 Trade, Customs & Industry
9 July 1998
Electricity, Financial Performance, Financial Position, Revenue, Expenses, Profit, Assets, Liabilities, WEL Energy Group