2007 Annual Report - Sappi
2007 Annual Report - Sappi
2007 Annual Report - Sappi
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Notes to the group annual financial statements continued<br />
for the year ended September <strong>2007</strong><br />
<strong>2007</strong> 2006<br />
Selling,<br />
Selling,<br />
general and<br />
general and<br />
administrative<br />
administrative<br />
US$ million Cost of sales expenses Cost of sales expenses<br />
4.1 Operating profit<br />
Operating profit has been arrived at after<br />
charging (crediting):<br />
Raw materials, energy and other direct<br />
input costs 2,743 – 2,547 –<br />
Fair value adjustment on plantations (1) (60) – (30) –<br />
Employee costs 809 116 769 109<br />
Depreciation 350 24 362 28<br />
Delivery charges 453 – 441 –<br />
Maintenance 235 – 226 –<br />
Other overheads 61 – 104 –<br />
Marketing and selling expenses – 91 – 86<br />
Administrative and general expenses – 131 – 144<br />
4,591 362 4,419 367<br />
US$ million <strong>2007</strong> 2006<br />
(1) Fair value adjustment on plantations<br />
Changes in volumes<br />
Fellings 70 74<br />
Growth (76) (70)<br />
(6) 4<br />
Plantation price fair value adjustment (54) (34)<br />
(60) (30)<br />
Silviculture costs (included within cost of sales) 41 43<br />
Leasing charges for premises 16 15<br />
Leasing charges for plant and equipment 43 44<br />
Remuneration paid other than to bona fide<br />
employees of the company in respect of: 31 44<br />
– technical services 15 10<br />
– administration services 16 34<br />
Auditors’ remuneration: 7 9<br />
– audit and related services 5 7<br />
– tax planning and tax advice 2 2<br />
96<br />
sappi limited | 07 | annual report
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