Untitled - David Kronemyer
Untitled - David Kronemyer
Untitled - David Kronemyer
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Operating profit is stated after charging:<br />
Depreciation on tangible fixed assets<br />
Finance lease rentals: plant, equipment and vehicles<br />
Operatiug lease rentals: plant, equipment and vehides<br />
Arrdit fees<br />
ProPerty<br />
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Interest payable:<br />
on bank overdrafts and loans repayable within 5 years<br />
on other loan6<br />
Bank and other interest receivable<br />
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The atrove table excludes interest receivable of S24.5m (1987 Sl8.2m) and interest<br />
payable of98.7rn (1987 S6.lm) in reepect of the Group's retail financing subsidiary. These<br />
amounts are included in turnover and cost of sales respectively.<br />
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5. TAXATION<br />
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Thxation on profit on ordinary activitres<br />
United Kingdom:<br />
corporation tax at 350/o (1987 350/o\<br />
double taxation relief<br />
Overseas taxation<br />
Deferred taxation:<br />
United Kingdom<br />
overseas<br />
Prior year adjustments<br />
Thx on share ol profits lese losses of related companies:<br />
United Kingdom<br />
ovetaea6<br />
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The charge for taxation has been reduced by !,2.7m (1987 nil) being UK taxation likely to<br />
be deferred for the foreseeable future in respect of timing differences.
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