Brambles 2006 Annual Report - Alle jaarverslagen

103
Brambles
2006 Annual Report
Note 5.
Profit from ordinary activities – continuing operations
2006
US$m
2005
US$m
a) Revenue and other income – continuing operations
Sales revenue 3,522.1 3,274.8
Net gains on disposals of property, plant and equipment 29.1 15.4
Other operating income 97.5 106.4
Other income 126.6 121.8
Total revenue 3,648.7 3,396.6
b) Operating expenses – continuing operations
Employment costs (Note 7) 697.1 663.2
Service suppliers:
– Transport 636.3 560.1
– Repairs and maintenance 231.2 227.0
– Subcontractors and other service suppliers 436.8 428.8
Raw materials and consumables 176.1 184.1
Occupancy 147.4 136.3
Depreciation of property, plant and equipment 364.1 358.5
Irrecoverable pooling equipment provision expense 93.7 114.7
Amortisation of:
– Software 30.6 31.5
– Acquired intangible assets (other than software) 14.6 1.3
– Deferred expenditure 2.7 1.7
Other 120.6 86.1
2,951.2 2,793.3
c) Net foreign exchange gains and losses – continuing operations
Net losses included in operating profit (0.5) (0.3)
Net gains included in net finance costs 0.1 7.2
(0.4) 6.9
Note 6.
Special items – continuing operations
2006
US$m
2005
US$m
Before tax Tax After tax Before tax Tax After tax
Amortisation of acquired intangible assets
(other than software) (3.4) 1.0 (2.4) (1.3) 0.4 (0.9)
Exceptional items:
– Restructuring and unification costs 1 (45.5) 0.5 (45.0) – – –
– AUSDOC integration costs 2 (21.3) 1.2 (20.1) – – –
– Gain on disposal of investment 3 – – – 7.5 (2.8) 4.7
Special items from continuing operations (70.2) 2.7 (67.5) 6.2 (2.4) 3.8
1
During 2006, Brambles incurred advisers’ fees (US$33.4 million) and redundancy and office closure costs (US$12.1 million) in connection
with the restructuring, future direction for the restructured Group and the DLC unification that was announced on 29 November 2005.
Further amounts were incurred within discontinued operations.
2
The majority of the brands and software acquired as part of the AUSDOC acquisition during 2006 will not be required under Recall
ownership, as the AUSDOC operation is being immediately integrated with Recall’s existing operations. In accordance with the
requirements of IFRS 3/AASB 3: Business Combinations, the brands and software acquired were fair valued at acquisition date without
regard to the acquirer’s intentions for those assets. The intangible assets were fully amortised in 2006 over their effective life to Recall.
The accelerated amortisation expense in 2006 amounts to US$14.7 million, of which US$11.2 million relates to the AUSDOC brand and
US$3.5 million relates to software. Other restructuring and integration costs of US$6.6 million were also incurred. No further integration
costs are expected.
3
In March 2005, Recall sold its investment in Hyland Software for net proceeds of US$19.6 million, resulting in a profit on sale
of US$7.5 million.