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Quarterly Report
SaskEnergy's interim report is comprised of a Management
Discussion and Analysis, interim
consolidated financial statements and notes to the interim consolidated financial statements.
SaskEnergy posts the interim reports
within 60 days of the end of the interim period.
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First Quarter Interim Report - March 31, 2008
For the first three months of 2008 consolidated net income was $60 million, which was $13 million higher
than the $47 million net income for the same period in 2007. Favourable fair value adjustments of $20 million,
compared to $3 million for the same period in 2007, contributed to the higher net income in 2008.
Effective January 1, 2008, SaskEnergy adopted the new Canadian Institute of Chartered Accountants (CICA) Handbook
Section 1535 – Capital Disclosures, Section 3031 – Inventories, Section 3862 – Financial Instruments – Disclosure,
and Section 3863 – Financial Instruments – Presentation. These changes in accounting policies are discussed in
Note 2 of the attached financial statements.
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Third Quarter Interim Report -
September 30, 2007
For the first nine months of 2007 consolidated net income was $47 million, which was $34 million higher than the
$13 million
for the same period in 2006. A lower loss on commodity sales in 2007 than in 2006 and higher margins on gas marketing sales
than in 2006 contributed to the higher net income in 2007.
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Second Quarter Interim Report -
June 30, 2007
For the first six months of 2007 consolidated net income was $53 million, which was $28 million
higher than the $25 million for the same period in 2006. A gain on commodity sales in 2007
compared to a commodity loss in 2006 and higher margins on gas marketing sales than in 2006
contributed to the higher net income in 2007.
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First Quarter Interim Report - March
31, 2007
For the first three months of 2007 consolidated net income was $47 million, which
was $10 million higher than the $37 million for the same period in 2006. A higher
gain on commodity sales, offset by lower gas marketing sales were the primary causes
for the higher net income compared to 2006.
Effective January 1, 2007, SaskEnergy adopted the new Canadian Institute
of Chartered Accountants standards for the reporting of financial instruments. This change
in accounting policy and its impact is discussed in Note 2 of the financial statements.
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