Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the consolidated financial statements
31. Finance income and expense
In thousands of euros
2008 2007
Interest income on bank balances and deposits 3,628 3,524
Interest income from loans and receivables 702 961
Net foreign exchange profit 94 -
Other interest income 24 81
Finance income 4,448 4,566
Interest expense on bank overdraft and short term loans 4,002 3,287
Interest expense on loans and borrowings 6,718 5,833
Interest expense on aftercare liabilities 695 731
Net foreign exchange profit - 28
Other finance expenses 498 687
Finance expenses -11,913 -10,566
Finance income and expense -7,465 -6,000
32. Income tax
Income tax recognised in the consolidated income statement amount to € 11,951,000 (2007: € 9,272,000). This item consists of current and
deferred income tax and is composed as follows:
In thousands of euros
2008 2007
Current income tax:
Current year 5,490 14,575
Adjustments for prior years -28 -71
5,462 14,504
Deferred income tax:
Deferred income tax relating to temporary differences and recognised tax losses 6,558 -4,231
Reduction of tax rates -69 -1,001
6,489 -5,232
Income tax expense 11,951 9,272
In addition, for 2008 a tax charge to an amount of € 255,000 has been included in result on sale of equity accounted investees.
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GRONTMIJ | ANNUAL REPORT 2008