WEL Networks doubles 1H profit

WEL Networks doubles 1H profit
Gavin Evans
By Gavin Evans Nov. 27 (BusinessDesk) - WEL Networks almost doubled its first-half profit as expansion of its fibre business boosted revenue and growth in Waikato increased residential connections and commercial volumes. Net income rose to $21.2 million in the six months through September, from $10.8 million a year earlier. Revenue increased by $19 million to $109.8 million – with electricity revenue $8.7 million higher at $74 million and fibre revenue $7.2 million higher at $31.7 million. Operating expenses were $1.4 million higher at...