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1998/99 Second Quarter Report - October 31, 1998
Balance Sheet (Unaudited)
(expressed in United States Dollars)
Please follow the link below for a printable copy in Microsoft Excel format:
2nd
Qtr. '99 Financials.xls
(download may take a few seconds-thanks for your patience!)
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As of October 31
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1998
US$ |
1997
US$ |
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Assets
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Current Assets |
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Cash and Due from Banks |
15,912,803 |
5,402,271 |
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Investments |
2,827,848 |
2,604,226 |
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Accounts Receivable |
5,287,879 |
5,148,437 |
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Due from Principal Shareholder |
136,333 |
183,602 |
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Inventories |
2,856,728 |
1,834,892 |
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Prepayments |
983,791 |
860,735 |
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28,005,382 |
16,034,163 |
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Property, Plant and Equipment |
121,857,665 |
105,241,704 |
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Other Assets |
3,000,243 |
2,481,788 |
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Total Assets |
152,863,290 |
123,757,655 |
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Liabilities and Shareholders' Equity |
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Current Liabilities |
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Current Portion of Long-Term Debt |
663,339 |
841,615 |
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Accounts Payable and Accrued Expenses |
6,031,762 |
5,350,919 |
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Consumers' Deposits |
2,948,254 |
2,946,300 |
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Consumers' Advances for Construction |
101,000 |
159,148 |
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Proposed Dividend |
2,307,633 |
1,946,931 |
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12,051,988 |
11,244,913 |
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Long-Term Debt |
49,954,409 |
25,340,521 |
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Redeemable Preference Shares |
14,015,100 |
17,015,100 |
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Total Liabilities |
76,021,497 |
53,600,534 |
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Shareholders' Equity
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Share Capital |
1,558,072 |
1,536,430 |
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Share Premium |
38,962,555 |
37,846,430 |
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Redetermination Surplus |
1,878,476 |
2,451,595 |
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Retained Earnings |
34,442,690 |
28,322,666 |
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Total Shareholders' Equity |
76,841,793 |
70,157,121 |
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Total Liabilities and
Shareholders' Equity
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152,863,290 |
123,757,655 |
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NOTES:
1. These unaudited financial statements include all adjustments which, in management's
opinion, are necessary for a fair presentation.
2. The closing rate of exchange on October 31, 1998 as reported by the Bank of Canada for
the conversion of U.S. dollars into Canadian dollars was Cdn. $1.5429 per US$1.00. The
official exchange rate for the conversion of Cayman Islands dollars into U.S. dollars as
determined by the Cayman Islands Currency Board is fixed at CI$1.00 per US$1.20. Thus, the
rate of exchange as of October 31, 1998 for conversion of Cayman Islands dollars into
Canadian dollars was Cdn. $1.8515 per CI$1.00. |
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