Annual Report (in PDF) - Hongkong Land

7 Operating profit
2007 2006
US$m
US$m
The following items have been charged/(credited) in arriving at operating profit:
Depreciation of tangible assets (see Note 13) 0.9 1.2
Directors’ remuneration 1.6 1.6
Staff costs
– salaries and benefits in kind 60.4 46.8
– defined contribution pension plan 1.9 1.7
– defined benefit pension plan (see Note 17) (0.2) 0.8
62.1 49.3
The number of employees at 31st December 2007 was 1,053 (2006: 1,019).
8 Net financing charges
2007 2006
US$m
US$m
Interest expenses
Bank loans and overdrafts (59.7) (52.4)
Other borrowings (88.0) (91.7)
Total interest expenses (147.7) (144.1)
Interest capitalised 13.8 12.4
(133.9) (131.7)
Commitment and other fees (4.6) (6.6)
Financing charges (138.5) (138.3)
Financing income 88.5 66.0
(50.0 ) (72.3 )
Financing charges and financing income are stated after taking into account hedging gains or losses.
Annual Report 2007 33