Newalta Announces Strong 1997 Results

Business Wire, March 13, 1998

CALGARY, ALBERTA--(BUSINESS WIRE)--March 13, 1998-- Newalta(TSE:NAL.) NEWALTA CORPORATION (NAL - TSE) announces its consolidated financial and operating results for the year ended December 31, 1997.

FINANCIAL ($000)
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                        Fourth Quarter       Year Ended
                         December 31         December 31
                        --------------------------------------
                        1997    1996    1997    1996   Percent
                                                      Increase
                        --------------------------------------

Revenue                16,917   14,180  64,015   49,213   30
Operating income        3,450    3,041  14,507   10,535   38
Earnings                1,941    1,802   8,586    6,352   35
Earnings per share
(cents)                   6.5      6.5    31.0     25.5   22
Cash flow               5,629    4,329  20,482   15,340   34
Average shares
outstanding (000s)        -        -    27,887   24,862   12
Total shares
outstanding (000s)        -        -    28,065   26,301    7

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