45
2017 WEL Networks
|
Annual Report
wel.co.nz
3 REVENUE
4 EXPENSES
WEL NETWORKS LIMITED
Notes to the financial statements
For the year-ended 31 March 2017
(continued)
2017
$’000
2016
$’000
Sales revenue
Gross line revenue
121,185
117,677
Discount
(17,344)
(18,590)
Fibre revenue
23,113
–
Contracting revenue
32,414
94,021
159,368
193,108
Other revenue
Third party contributions
10,178
5,096
Operating lease revenue
2,826
2,803
Other income
4,500
3,211
17,504
11,110
176,872
204,218
Expenses, excluding finance costs, included in the income statement classified by nature
Contracting cost of sales
29,310
97,159
Transmission costs
29,528
28,601
Employee benefits
32,951
27,022
Capitalised labour
(20,224)
(20,403)
Materials and services
7,589
6,716
Premise networking costs
4,273
-
Net loss on disposal of property, plant and equipment
3,030
2,629
Operating leases
842
257
Directors fees
407
297
Bad debts written off
225
523
Change in provision for impaired receivables
42
(138)
Other expenses
20,382
11,764
108,355
154,427
Profit before income tax includes the following specific expenses
Depreciation
Buildings
149
148
Plant and equipment
3,565
3,818
Fibre network
9,973
-
Motor vehicles
208
847
Distribution network
17,408
16,597
Computer hardware
738
387
Total depreciation
32,041
21,797
