Page 42 - NZPM Annual Report 2017

NZPM GROUP ANNUAL REPORT 2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

For the year ended 31 March 2017

2. OTHER INCOME

2017 2016
$’000 $’000
Dividends 1 2
Share of profit from associates 145 381
146 383

3. OTHER OPERATING EXPENSES

The following disclosure provides additional information in relation to Other Operating Expenses included
within the Statement of Financial Performance.

2017 2016
$’000 $’000
(a) Other gains and losses
Net foreign exchange losses 0 1
(Gain)/loss arising on forward exchange contracts (101) 3
Loss/(gain) on disposal of plant, property and equipment and intangible assets 34 (48)
(67) (44)
(b) Audit fees
Auditors of the company and Group - Deloitte:
Audit of the financial statements (Group and subsidiary companies) 101 101
Other assurance fees (i) 16 27
New Zealand tax compliance fees 42 30
159 158
(i) Other assurance services include scrutineer role at AGM, review of Trust Deed and
share register audit.

(c) Employee benefits expenses
Wages and salaries and other benefits 29,394 27,253
Contributions to KiwiSaver 652 601
Directors' remuneration 346 353
Directors' retiring allowance 58 57
30,450 28,264

(d) Rental expense
Net property rent expense 6,097 6,065

(e) Depreciation and amortisation expenses
Leasehold improvements 674 543
Plant and equipment 457 487
Motor vehicles 93 64
Computer equipment 152 277
Software 515 3,004
1,891 4,375

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