Annual report home ► Downloads ►   The Bidvest Group Limited Annual report 2006 Commentary Value added statement Exchanges with government Directors’ responsibility for the financial statements Declaration by company secretary Report of the independent auditors Directors’ report Accounting policies Consolidated income statement Consolidated statement of recognised income and expenses Consolidated cash flow statement Consolidated balance sheet Notes to the consolidated financial statements Company income statement Company cash flow statement Company balance sheet Notes to the Company financial statements Interest in subsidiaries, joint ventures and associates   Notes to the consolidated financial statements for the year ended June 30       2006  R’000    2005  R’000  2. Operating profit         Determined after charging (crediting):         Auditors’ remuneration 43 402    41 714    Audit fees 33 588    31 515    Audit related expenses 857    988    Other services 8 957    9 211    Depreciation of property, plant and equipment 779 739    706 104    Buildings 25 603    17 972    Leasehold premises 30 178    25 513    Plant and equipment  223 453    164 647    Office equipment, furniture and fittings 145 581    151 948    Vehicles, vessels and craft 261 723    241 896    Rental assets 89 246    103 241    Capitalised leased assets 3 955    887    Depreciation of vehicle rental fleet 68 080    40 094    Amortisation of intangible assets 137 094    103 193    Patents, trademarks, tradenames and other intangibles 67 283    60 036    Computer software 69 811    43 157    Impairment of goodwill and other intangibles 14 174    10 292    Goodwill 9 574    10 292    Patents, trademarks, tradenames and other intangibles 4 600    –    Negative goodwill arising on acquisition of subsidiaries included in other income (3 780)   –    Directors’ emoluments         Executive directors 60 818    58 899    Basic remuneration 30 650    29 177    Retirement and medical benefits 3 793    3 790    Other benefits 3 365    4 890    Cash incentives 23 010    21 042    Non-executive directors 1 396    1 447    Fees 774    1 195    Other services 622    252    Employer contributions to 521 884    465 243    Defined contribution pension funds 157 115    136 892    Provident funds 172 458    137 105    Retirement funds 39 954    36 296    Medical aid funds 152 357    154 950    Actuarial losses (surpluses) on post-retirement obligations 28 692    2 303    Unfunded pension liability 10 282    3 007    Post-retirement medical aid obligations 18 410    (704)   Defined benefit pension fund costs 7 074    6 663    Share-based payment expense 50 050    37 621    Staff 37 249    27 472    Executive directors 12 515    10 149    Former executive directors 286    –    Staff costs excluding directors’ emoluments and employer contributions 7 641 406    6 731 535    Fees for administrative, managerial and technical services 7 130    10 913    Foreign exchange losses (gains) (16 398)   (70 272)   Realised (20 445)   (32 740)   Unrealised 4 047    (37 532)   Dividends received (28 301)   (50 927)   Listed investments (14 213)   (8 096)   Unlisted investments (14 088)   (42 831)   Fair value adjustments on investments held for trading (45 577)   (84 124)   Net capital losses (profits) (44 901)   19 463    Loss (profit) on disposal of property, plant and equipment (15 689)   13 410    Loss (profit) on closure and disposal of businesses (29 212)   6 053    JSE Limited fees 128    153    Operating lease charges 812 874    785 112    Land and buildings 616 301    560 496    Equipment and vehicles 196 573    224 616    ▲   Back to top