Annual Report 2013 - Mainfreight

More documents

Recommendations

Info

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
7 Income Tax 2013 $000 Group 2012 $000 2013 $000 Parent 2012 $000 Profit Before Taxation for the Year 94,940 107,409 70,466 59,257 Prima Facie Taxation at 28% NZ, 30% Australia, 40% USA, 16.5% Hong Kong, 25% China, 25% Europe (31 March 2012 28% NZ, 30% Australia, 40% USA, 16.5% Hong Kong, 25% China, 25% Europe). 28,407 31,027 19,731 16,592 Adjusted by the Tax Effect of: Non-assessable Dividend Income – – (9,494) (6,681) Non-assessable Revenue (6) (4,265) (6) – Prior Year Tax Adjustments 203 (126) 75 (127) Non-deductible Share Based Payments – 114 – 114 Non-deductible Expenses 425 209 128 110 Aggregate Income Tax Expense 29,029 26,959 10,434 10,008 Current Tax 31,563 31,947 10,969 9,369 Deferred Tax (2,534) (4,988) (535) 639 29,029 26,959 10,434 10,008 Imputation Credit Account Opening Balance 16,809 10,430 15,906 9,542 Credits Distributed During the Year (9,386) (9,761) (9,386) (9,761) Credits Received During the Year – – – – Tax Payments Made 21,408 16,140 21,405 16,125 Closing Representing Credits Available to Owners of the Group at Balance Date: 28,831 16,809 27,925 15,906 Financial Statements 91
Page 1 and 2:
Mainfreight Annual Report 2013 Recr
Page 3 and 4:
The Mainfreight business has become
Page 5 and 6:
Facts & Figures Our operations are
Page 7 and 8:
Wherever we are in the world, all o
Page 9:
on any given day We're tackling our
Page 12 and 13:
Group Managing Director's report As
Page 14 and 15:
Continued investment in facilities
Page 16 and 17:
once again working to provide Austr
Page 18 and 19:
We continue to work hard to further
Page 20 and 21:
We have increased our trans-border
Page 22 and 23:
Margin levels have been impacted as
Page 24 and 25:
Laurie McMahon, Mainfreight Christc
Page 26 and 27:
Environment Mainfreight has always
Page 28 and 29:
Our people We have no widgets or ga
Page 30 and 31:
28 Mainfreight | Annual Report 2013
Page 32 and 33:
Kelvin Teasdale, Lee Tuhura, Chris
Page 34 and 35:
Wim Bosman Genk Steven Bleys, Rosol
Page 36 and 37:
on any given day Behind the scenes
Page 38 and 39: Marcel ter Heerdt, Driver in Domest
Page 40 and 41: on any given day Mainfreight has he
Page 42 and 43: Executive Team Carl George National
Page 44 and 45: Executive Team continued Carl Howar
Page 46 and 47: Targets & Achievements Recent Curre
Page 48 and 49: Capital Expenditure This year’s f
Page 50 and 51: Corporate Governance THE ROLE OF TH
Page 52 and 53: on any given day Wherever we are in
Page 54 and 55: on any given day Whatever we do, wh
Page 56 and 57: Board of directors Emmet Hobbs Inde
Page 58 and 59: 60 As we drive ourselves hard in th
Page 60 and 61: Operating Statistics How we measure
Page 62 and 63: Financial Contents 65 Income Statem
Page 64 and 65: Balance Sheet as at 31 March 2013 N
Page 66 and 67: Statement of Changes in Equity for
Page 68 and 69: Cash Flow Statement for the Year En
Page 70 and 71: 2 Summary of Significant Accounting
Page 82 and 83: 3 Financial Risk Management Objecti
Page 84 and 85: 3 Financial Risk Management Objecti
Page 86 and 87: 5 Segmental Reporting The Group ope
Page 90 and 91: 7 Income Tax (continued) Recognised
Page 92 and 93: 9 Earnings Per Share The following
Page 94 and 95: 13 Investment in Subsidiary Compani
Page 96 and 97: 14 Non-current Assets - Property, P
Page 98 and 99: 15 Non-current Assets - Intangible
Page 100 and 101: 15 Non-current Assets - Intangible
Page 102 and 103: 20 Leases At balance date the Group
Page 104 and 105: 21 Contributed Equity (continued) C
Page 106 and 107: 23 Related Parties (continued) Tran
Page 108 and 109: 25 Share-based Payment Plans (conti
Page 110 and 111: 30 Abnormal Items During the year t
Page 112 and 113: of Directors’ financial Responsib
Page 114 and 115: Donations and Auditors’ Fees Dona
Page 116 and 117: Interests Register The following en
Page 118: Glossary Air & Ocean C&F EBIT EBITA
show all

Annual Report 2013 - Mainfreight

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?