RFG Annual Report 2007 - Retail Food Group

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06/07 Annual Report 38 8. Profit for the year Retail Food Group Annual Report (a) Consolidated Company Continuing Discontinued Total Continuing Discontinued Total Gains and losses Profi t for the year has been arrived at after crediting/(charging) the following gains and losses: 2006 $’000 2007 $’000 2006 $’000 2007 $’000 2006 $’000 2007 $’000 2006 $’000 2007 $’000 2006 $’000 2007 $’000 2006 $’000 2007 $’000 2 (2) – 7 2 5 – – – – – – Gain/(loss) on disposal of property, plant and equipment (b) Other Expenses Profi t (for the year includes the following expenses: Cost of sales (4,356) (3,048) – (597) (4,356) (3,645) – – – – – – (109) (276) – – (109) (276) – – – – – – Impairment of trade receivables – – – – – – – (883) – – – (883) Debt forgiveness— wholly owned entities (167) (111) – (3) (167) (114) – – – – – – Depreciation of noncurrent assets (21) (2) – – (21) (2) – – – – – – Amortisation of noncurrent assets (188) (113) – (3) (188) (116) – – – – – – Operating lease rental expenses: (934) (1,040) – – (934) (1,040) – – – – – – – Minimum lease payments Employee benefi ts expense: (343) (309) – (20) (343) (329) – – – – – – – Post employment benefi ts (defi ned contribution plans) (192) – – – (192) – – – – – – – – Share-based payments (equitysettled share-based payments) (5,098) (4,861) – (300) (5,098) (5,161) – – – – – – – Other employee benefi ts (5,633) (5,170) – (320) (5,633) (5,490) – – – – – –
9. Income taxes 39 Income tax recognised in profit or loss 2007 $’000 Consolidated 2006 $’000 2007 $’000 Company Tax expense/(income) comprises: Current tax expense/(income) 3,033 2454 296 99 Adjustments recognised in the current year in relation to the current tax of prior years – (18) – – Deferred tax expense/(income) relating to the origination and reversal of temporary differences 2006 $’000 201 59 161 127 Total tax expense/(income) 3,234 2,495 457 226 Attributable to: Continuing operations 3,234 2,712 457 226 Discontinued operations (note 30) – (217) – – 3,234 2,495 457 226 The prima facie income tax expense on pre-tax accounting profi t from operations reconciles to the income tax expense in the fi nancial statements as follows: Profi t from continuing operations 10,754 9,156 5,770 10,115 Profi t from discontinued operations – 725 – – Profi t from operations 10,754 8,431 5,770 10,115 Income tax expense calculated at 30% 3,226 2,529 1,731 3,034 Retail Food Group Annual Report Effect of expenses that are not deductible in determining taxable profi t 71 82 1 272 Effect of non assessable gain on consolidation of New Zealand operations (28) – – – Other (35) (116) – (7) Effect of rebatable dividends – – (1,275) (3,073) 3,234 2,495 457 226 Overprovision of income tax in previous year – (18) – – 3,234 2,477 457 226 The tax rate used in the above reconciliation is the corporate tax rate of 30% payable by Australian corporate entities on taxable profi ts under Australian tax law. There has been no change in the corporate tax rate when compared with the previous reporting period.
Page 1: Retail Food Group Limited ACN 106 8
Page 5 and 6: Chairman’s letter Dear Shareholde
Page 7 and 8: Managing Director’s Report The Co
Page 9 and 10: OUTLOOK The 2007 fi nancial year ha
Page 11 and 12: The role of the Board and delegatio
Page 13 and 14: Directors’ Report The directors o
Page 15 and 16: The Group also continued with its s
Page 17 and 18: 4. Coffee Roasting Facility (CRF) T
Page 19 and 20: Directors’ meetings The following
Page 21 and 22: The following table discloses the r
Page 23 and 24: Deloitte Touche Tohmatsu A.C.N. 74
Page 25 and 26: 23 Auditor’s Independence Declara
Page 27 and 28: Income statement for the financial
Page 29 and 30: Statement of changes in equity for
Page 31 and 32: Notes to the financial statements f
Page 33 and 34: The directors anticipate that the a
Page 35 and 36: On consolidation, the assets and li
Page 37 and 38: (p) Property, plant and equipment L
Page 39: 6. Revenue An analysis of the Group
Page 43 and 44: 9. Income taxes (continued) Deferre
Page 45 and 46: 10. Trade and other receivables 43
Page 47 and 48: 13. Property, plant and equipment 4
Page 49 and 50: 14. Other intangible assets (contin
Page 51 and 52: 19. Other liabilities 49 2007 $’0
Page 53 and 54: 23. Earnings per share 51 2007 Cent
Page 55 and 56: 26. Contingent liabilities and cont
Page 57 and 58: 28. Subsidiaries 55 Name of entity
Page 59 and 60: 30. Discontinued operations Disposa
Page 61 and 62: 31. Notes to the cash flow statemen
Page 63 and 64: 32. Financial instruments (continue
Page 65 and 66: 33. Share-based payments (continued
Page 67 and 68: 34. Key management personnel compen
Page 69 and 70: 35. Related party transactions (con
Page 75 and 76: 37. Subsequent events (continued) F
Page 77: Twenty largest holders of quoted eq
Page 80: Retail Food Group Limited ACN 106 8

RFG Annual Report 2007 - Retail Food Group

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