✨ Financial Statements
Notes to and Forming Part of the Financial Statements
For the Year Ending 31 March 2003
GAS DIVISION
10 Disclosure of Performance Measures pursuant to Regulation 15 and Part II of the First Schedule of the Gas (Information Disclosure) Regulations 1997
Financial Performance Measures
| 2003 | 2002 | 2001 | 2000 | |
|---|---|---|---|---|
| (i) Accounting Return on Total Assets | 5.31% | 8.27% | 8.28% | 9.74% |
| (ii) Accounting Return on Equity | -4.43% | -0.88% | 7.17% | 7.87% |
| (iii) Accounting Rate of Profit including revaluation | 3.56% | 5.69% | 5.40% | 21.65% |
| (iv) Accounting Rate of Profit excluding revaluation | 3.56% | 5.69% | 5.40% | 7.21% |
Efficiency Performance Measures
| 2003 | 2002 | 2001 | 2000 | |
|---|---|---|---|---|
| (v) Direct Line Cost per Kilometre | $1,445.52 | $1,634.20 | $1,632.68 | $1,159.84 |
| (vi) Indirect Line Cost per Gas Customer | $73.27 | $64.45 | $72.26 | $56.54 |
11 Contingent Liabilities and Commitments
Contingencies
As Powerco is an integrated business, this disclosure relates to the business as a whole.
The Company has been named as a second defendant in a claim issued by Todd Energy Limited against Transpower Limited. The Plaintiff alleges various breaches of the Commerce Act 1986 and claim various declarations and injunctions together with damages. The damages amount is presently unquantified. The claim is being defended by Powerco, which contends that it is not in breach of any of its obligations. No provision for the claim has been included in the financial statements.
Capital Commitments
As Powerco is an integrated business, this disclosure relates to the business as a whole.
Commitments for future capital expenditure resulting from contracts entered into amounts to $12.6 million (2002: $840,000).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 116
Gazette.govt.nz —
NZ Gazette 2003, No 116
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Powerco Limited Financial Statements
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🏭 Trade, Customs & IndustryFinancial Statements, Performance Measures, Contingent Liabilities, Capital Commitments, Gas Division