70 ANNUAL REPORT  2013  KATHMANDU (f) Externally imposed capital requirements (e) Capital risk management 27 SEGMENTAL INFORMATION The Group operates in three geographical areas: New Zealand, Australia and the United Kingdom. In order to maintain or adjust the capital structure, the Group  may adjust the amount of dividends paid to shareholders, return  The Group’s objectives when managing capital are to safeguard  the Group’s ability to continue as a going concern in order  to provide returns for shareholders and benefits for other  stakeholders and to maintain an optimal capital structure to  reduce the cost of capital. The Group’s capital includes contributed equity, reserves and  retained earnings. The Group is subject to various covenants with its banking  syndicate in relation to the ratios of earnings to total debt and  interest on that debt, which were complied with during and at the  end of the year. capital to shareholders, issue new shares or sell assets to reduce  debt or draw down more debt. 31 July 2013 Australia New Zealand United Kingdom Elimination Total NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Segment profit / (loss) before income tax 20,540 30,330 (2,348) 10,460 58,982 ) Income tax expense (6,183) (8,625) - - (14,808) Profit / (loss) after tax 44,174 ) Segment profit / (loss) before income tax includes the  following specific income and (expenses): Sales to external customers 241,130 136,983 5,870 - 383,983 Sales to Group entities 588 1,169 - (1,757) - Cost of sales (81,251) (57,881) (2,826) - (141,958) Interest income 40 10 - - 50 Interest expense (2,148) (1,720) - - (3,868) Other finance costs (299) (308) - - (607) Intercompany net finance income/(expense) (3,386) 3,386 - - - Intercompany recharges income/(expense) (8,895) 9,575 (680) - - Depreciation and software amortisation (7,009) (3,202) (398) - (10,609) Exchange gain/(loss) on foreign currency borrowing (10,415) (164) 137 10,460 18 Additions of non-current assets 10,238 5,555 1,626 - 17,419 Total current assets 50,904 420,143 2,779 (379,895) 93,931 Total non-current assets 136,438 339,257 1,419 (194,828) 282,286 Total assets 187,342 759,400 4,198 (574,723) 376,217 Total current liabilities (98,524) (11,562) (9,834) 81,100 (38,820) Total non-current liabilities  (28,341) (14,867) - - (43,208) Total liabilities (126,865) (26,429) (9,834) 81,100 (82,028)