Annual Report 2007 - Hmdatalink.com hm datalink

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Notes to the consolidated financial statementsfor the year ended 31 December 20076. TURNOVER/REVENUETurnover/revenue represents the consideration received and receivable from sales, net of discounts, returnsand related sales taxes, of automobile parts and components.7. BUSINESS AND GEOGRAPHICAL SEGMENTSBusiness segmentsNo business segment information has been presented for the years ended 31 December 2007 and 31December 2006 as the directors considered that the Group is principally engaged in manufacturing andtrading of automobile parts and related automobile components which accounts for the total turnover andtrading profits of the Group for the years.Geographical segmentsThe Group’s activities and operations are based in the People’s Republic of China (the “PRC”). Accordingly,no geographical analysis is presented.8. OTHER INCOME2007 2006HK$’000HK$’000Bank interest income 20,334 13,401Net exchange gain – 3,929Net gain on financial instruments at fair value through profitand loss that are classified as held for trading (forwardforeign exchange contracts not used for hedging) 4,681 –Net claims income on defected materials purchased 1,276 –Excess of fair value of identifiable net assets acquired over costin respect of acquisition of additional interests in a subsidiary 2,553 –Sundry income 3,055 89431,899 18,224GEELY AUTOMOBILE HOLDINGS LIMITED75ANNUAL REPORT 2 0 0 7
Notes to the consolidated financial statementsfor the year ended 31 December 20079. PROFIT FOR THE YEARProfit for the year has been arrived at after charging:2007 2006HK$’000HK$’000Finance costsEffective interest expense on convertible bonds 35,103 32,289Interest on bank borrowings wholly repayable within one year – 10135,103 32,390Staff costs (including directors’ emoluments)Salaries, wages and other benefits 17,699 13,181Retirement benefit scheme contributions 974 481Recognition of share based payments(included in administrative expenses) 5,460 4,66024,133 18,322Other itemsCost of inventories recognised as expense 121,251 110,036Auditors’ remuneration 1,596 1,192Depreciation 2,282 1,403Net exchange loss 9,881 –Operating leases charges on premises 1,289 1,220GEELY AUTOMOBILE HOLDINGS LIMITED76ANNUAL REPORT 2 0 0 7
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