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Saturday, October 25, 2014
Saskatchewan

CIC'S SEMI-ANNUAL FINANCIAL REPORT RELEASED

Saskatchewan's public enterprise sector performed well in the first half of

2000 with a slight drop in earnings offset by lower debt and interest costs.



Details were released today by Crown Investments Corporation (CIC) in its Semi-

annual Financial Report. The report covers the financial results of

Saskatchewan's commercial Crown corporations and major public investments for

the period January 1 to June 30, 2000.



"Debt continues to go down, improving the overall financial position of our

public enterprise sector," Crown Investments Corporation Minister John Nilson

said. "With stable earnings and lower interest costs continuing in the second

half of the year we expect that CIC will be able to provide a dividend of $150

million on 2000 earnings. That will be an increase of $25 million from last

year and it will make a substantial contribution to improving highways, health

and other important services."



Highlights of the 2000 semi-annual financial report, with all numbers comparing

the first half of 2000 with the first half of 1999, include:



Consolidated earnings were $165.4 million, down $7.2 million as a result

of lower gains on the sale of investments offsetting higher earnings from

ongoing operations.



Consolidated debt was reduced by $34 million to $3.14 billion.



Earnings of the four major commercial Crowns – SaskPower, SaskTel,

SaskEnergy, and SGI Canada – increased by $5.8 million.



Earnings of CIC's major investments in NewGrade, Saskferco and Meadow Lake

Pulp were up $18.5 million.



Copies of the 2000 Semi-Annual Financial Report are available from CIC, 400 -

2400 College Avenue, Regina, S4P 1C8. Phone 787-5937. The report is also

available on the Internet at: www.gov.sk.ca/crowninv/semianrep00.htm.



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For more information, contact:



Ted Boyle

Crown Investments Corporation

Regina

Phone: (306) 787-9039
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