Cosalt plc Annual report & financial statements 2008

Financial statements Notes to the financial statements
Notes to the financial statements
continued
3. Operating profit
Operating profit has been arrived at after charging/(crediting):
2008 2007
Group Group
total total
£000 £000
Change in stocks of finished goods and work in progress 973 (3,516)
Other operating income (151) (235)
Government grants (14) (11)
Raw materials and consumables 50,085 29,524
Other external charges
Operating lease charges
15,287 16,813
– plant 831 1,025
– other 807 1,219
Staff costs (note 8) 24,367 16,423
Amortisation of intangible fixed assets (note 13) 518 331
Depreciation of owned assets 2,585 2,321
Depreciation of assets held under finance leases 221 312
Special items
95,509 64,206
– staff costs – redundancy (note 8) 525 409
– other external charges – other reorganisation costs 1,437 122
– raw material and consumables – stock writedowns and onerous contracts 180 1,271
Amortisation of acquired intangibles 2,083 689
Profit on disposal of surplus properties – (513)
Loss /(Gain) on revaluation of investment properties 800 (1,063)
5,025 915
100,534 65,121
4. Auditors’ remuneration
Auditors’ remuneration is included within other external charges and consists of the following:
2008 2007
£000 £000
Audit of these financial statements 64 59
Audit of subsidiaries pursuant to such legislation 52 86
Other services pursuant to such legislation – –
Other services relating to taxation 111 40
All other services 55 46
282 231
In addition due diligence fees of £375,000 and taxation fees of £10,000 were included within costs of acquisition and form part
of the cost of investment or are included in special items.
Amounts paid to the Company’s auditors and their associates in respect of services to the Company, other than the audit of
the Company’s financial statements, have not been disclosed as the information is required instead to be disclosed on a
consolidated basis.
52 Cosalt plc Annual report & financial statements 2008