Our Strategy at Work
1 9 9 9 A N N U A L R E P O R T our strategy at work front cover photo: Northern staff in Rossville, Manitoba show off team spirit after their store was reprofiled with expanded food selling space and lower pricing. In response to customers’ comments of “My, oh, my how things have changed,” staff initiated a themed campaign complete with t-shirts, buttons and display signs. clockwise from top left to right: Eva Alainja, Iqaluit, Nunavut Ula Arnaquq, Iqaluit, Nunavut Paulusi Davidee, Iqaluit, Nunavut Northern living, Iqaluit, Nunavut Wilfred Ferland, Rossville, Manitoba Tasha Kootoo-Reist, Iqaluit, Nunavut N O R T H W E S T C O M P A N Y F U N D 1999 financial highlights 52 weeks ended 52 weeks ended 53 weeks ended (in thousands of Canadian dollars) January 29, 2000 January 30, 1999 January 31, 1998 RESULTS FOR THE YEAR Sales and other revenue $626,469 $629,118 $ 616,710 Earnings before interest, unusual item, and income taxes (EBIUT) 39,809 42,831 39,587 Earnings 27,957 16,145 21,037 Pre-tax cash flow 46,503 54,731 47,586 FINANCIAL POSITION Total assets $387,537 $ 387,411 $ 425,136 Total debt 171,475 173,973 201,408 Total equity 169,905 164,117 160,160 PER UNIT/SHARE ($) Earnings for the year before unusual item $ 1.86 $ 1.82 $ 1.40 Earnings for the year 1.86 1.08 1.40 Pre-tax cash flow 3.10 3.65 3.17 Cash distributions/dividends paid during the year 1.44 1.00 0.60 Equity 11.33 10.94 10.68 Market price – year end 11.75 15.50 14.00 – high 15.95 16.65 14.80 – low 11.25 11.55 10.25 FINANCIAL RATIOS Debt to equity 1.01 : 1 1.06 : 1 1.26 : 1 Return on net assets* 11.6% 12.1% 11.4% Return on average equity before unusual item 16.8% 17.6% 13.9% *Earnings before interest, unusual item and income taxes as a percent of average net assets employed.
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