Growing with the North OUR MISSION
1997 ANNUAL REPORT growing with the North OUR MISSION NWC is the leading provider of food and everyday products and services to remote communities across northern Canada and Alaska. Our purpose is to create superior long-term investor value by enhancing our value to our customers, our employees, and the communities we serve. serving remote communities F I N A N C I A L H I G H L I G HTS 53 weeks ended 52 weeks ended 52 weeks ended (in thousands of Canadian dollars) January 31, 1998 January 25, 1997 January 27, 1996 RES ULTS FOR THE YEAR Sales and other revenue $ 616,710 $ 590,583 $ 592,034 Operating profit before provision for loss on disposition 39,587 43,208 32,860 Net earnings (loss) 21,037 17,858 (5,172) Pre-tax cash flow 42,244 44,094 33,321 FINANCIAL POSITION Total assets $ 425,136 $ 383,736 $ 375,947 Total debt 201,408 175,027 178,275 Total equity 160,160 147,353 139,953 PER UNIT / S HARE Fully diluted earnings for the year before provision for loss on disposition $ 1.40 $ 1.18 $ 0.68 Fully diluted earnings (loss) for the year 1.40 1.18 (0.32) Pre-tax cash flow 2.82 2.92 2.08 Cash distributions/dividends paid during the year 0.60 0.40 0.40 Equity 10.68 9.82 9.02 Average units/shares outstanding (# in 000’s) 15,000 15,095 16,040 Units/shares outstanding at year-end (# in 000’s) 15,000 15,000 15,519 1997 highlights FINANCIAL RATIOS Debt to equity 1.26 : 1 1.19 : 1 1.27 : 1 Return on net assets* 11.7% 13.4% 9.8% Return on average equity before provision 13.8% 12.7% 7.0% * Operating profit as a percent of average net assets employed.
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