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FINANCIAL SUMMARY

For the years ended 30 June
NZ$ 000’S (UNLESS OTHERWISE STATED)
2003
2002
2001
2000
1999
1998
Operating revenue
36,672
21,755
33,101
19,606
8,811
591
Operating profit
7,074
6,968
6,508
5,159
3,091
(147)
Net surplus (deficit)
(36,484)
6,746
5,044
5,152
3,091
(147)
Equity
90,459
123,540
114,347
104,433
99,281
96,337
Shares on issue (number in 000’s)
151,629
145,807
140,734
131,434
131,434
131,434
Forest at valuation
(nine percent discount rate)
141,900
162,400
157,400
148,557
129,886
122,323
Net asset backing per share
$0.60
$0.85
$0.81
$0.79
$0.76
$0.73
AS AT CLOSE OF DAY – 30 JUNE
 
 
 
 
 
 
Share price
$0.50
$0.65
$0.53
$0.45
$0.44
$0.40
Convertible note price
$1.30
$1.28
$1.10
$1.05
$1.03
NZSX 40
2,143
2,068
2,086
2,062
2,136
1,965
Ten year government stock interest rate
5.37%
7.20%
6.74%
6.78%
6.63%
6.35%
90 day bank bill interest rate
5.25%
5.97%
5.81%
6.90%
4.76%
7.88%
NZD/USD exchange rate
0.5835
0.4867
0.4030
0.4679
0.5363
0.5199
NZD/AUD exchange rate
0.8738
0.8627
0.7940
0.7768
0.8152
0.8427
NZD/JPY exchange rate
69.70
58.23
50.65
49.68
64.91
72.19
All financial information is in New Zealand dollars, unless otherwise stated.

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