Annual Report 2013 - Mainfreight

6 Expenses and Other Income
The Profit before Taxation is stated:
Group
2013
$000
2012
$000
Parent
2013
$000
2012
$000
After Charging:
Audit Fees – Parent Company Auditors 1,359 1,309 235 242
Audit Fees – Other Auditors 88 44 – –
Other Assurance Related Fees Paid to Parent Co Auditors – 35 – –
Tax Fees Paid to Parent Company Auditors for Tax Advice and Compliance 778 612 144 192
Due Diligence & Acquisition Tax Advisory Fees Paid to Parent Co Auditors 432 1,066 432 1,066
Depreciation: Buildings 6,854 7,200 3,136 2,857
Leasehold Improvements 1,593 1,436 264 206
Plant, Vehicles & Equipment – Owned 11,581 12,809 2,639 2,352
Plant, Vehicles & Equipment – Finance Leased 2,104 2,203 – –
Amortisation of Software 4,850 4,540 3,533 3,237
Amortisation of Customer Lists & Agency Agreements 3,451 3,885 – –
Employee Benefits Expense
Wages and Salaries 390,737 372,461 52,124 47,502
Directors’ Fees 616 680 616 680
Share-based Payments Expense – 406 – 406
Total Employee Benefits 391,353 373,547 52,740 48,588
Interest: Variable Loans 9,296 12,661 4,580 *** 4,570
Finance Leases 387 303 – –
Derivative Fair Value Movement – (201) – –
Bad Debts Written Off/(Recovered) 2,648 2,838 152 309
Change in Bad Debt Provision 564 (315) (81) 107
Donations 641 988 395 602
Rental & Operating Lease Costs 56,221 55,287 8,226 6,657
After Crediting Other Income:
Interest Income 926 1,596 187 240
Net Gain (Loss) on Foreign Exchange 1,762 1,419 6,461 11,603
Net Gain (Loss) on Disposal of Property, Plant & Equipment 1,126 816 (7) (29)
Rental Income 4,831 5,173 487 322
Dividend Received – – 33,908 23,859
*** Interest on variable loans of $1,559,000 in the 2012 year of the Parent has been reclassified to conform with current
year classification.
90 Mainfreight | Annual Report 2013