Forum Archive Index - October 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Rockbottom,
 
>
>
>Just had a quick look at the annual report. On page 1 (Financial
>Summary) it states the Earnings per share was 41.5cents yet on page
>55 of the notes it states Earnings per share on a consolidated basis
>was 27.9 cents.
> 
>Why the difference?
> 
>


The difference you refer to is 41.5 - 27.9 = 13.6c per share.

There are 204,688,892 (weighted average) shares on issue, so in 
dollar terms this difference equates to:

0.136 x 204,688,892 = $27.8 million

There was a lot of goodwill written off after Sky City acquired 
Force Corporation.  Have a look on page 52, under note 13 (intangible 
assets).  There goes $16.7m.

Now turn to page 47 and look at Note 8 under 'Minority Interests'.  
There you will see a figure of -$10.5m.

That brings it up to $27.2 million lost which is within $600,000 or 
so of the $27.8million figure we are after.  

Back on page 52 under intangible assets there is a figure of $600,000 
(actually $647,000) which is a write off in foreign currency 
translation.  Could that be the missing amount we are after?  

Perhaps someone else might explain to us what 'foreign currency 
translation' means, and why it might be seen as a 'one off' 
adjustment.

SNOOPY


 
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Message posted by Harry Tennyson
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