Annual Report 10/11 - ACL Cables PLC

ACL Cables PLC Annual Report 2010/115. Operating profitThe following items have been charged/ (credited) in arriving at operating profit:GroupYear ended 31 MarchCompanyYear ended 31 March2011 2010 2011 2010Directors’ emoluments 26,063,333 20,557,667 16,900,000 13,440,000Auditors’ remuneration- audit 1,812,595 1,735,280 550,000 500,000- non-audit 65,000 152,859 - -Legal fees 649,715 1,937,479 649,715 1,937,479Depreciation on property, plantand equipment (Note 11) 117,597,500 121,110,337 45,712,789 50,964,385Donations 1,450,445 994,710 1,450,445 492,970Net foreign exchange (gain)/ loss (6,862,785) 4,492,895 (6,862,785) 3,332,660Amortization of leasehold properties (Note 15) 21,935 21,935 - -Bad debts written off 347,002 8,613,696 - -Staff cost (Note 6) 630,919,226 538,423,557 360,037,760 302,316,598Change in fair value of investmentproperty (Note 13) (5,000,000) - - -6. Staff costSalaries, wages and related cost 556,069,620 468,137,628 317,095,923 257,412,850Defined contribution plan 46,133,199 41,108,057 26,225,767 23,428,136Defined benefit plan (Note 26) 28,716,407 29,177,872 16,716,070 21,475,613630,919,226 538,423,557 360,037,760 302,316,598Average number of employees during the year 1,149 1,075 600 5817. Net finance costInterest income (16,593,492) (11,244,423) (8,127,299) (3,726,414)Interest expense 243,348,683 281,051,647 180,331,128 207,827,579Lease interest - 338,438 - -226,755,191 270,145,662 172,203,829 204,101,1658. Income taxCurrent tax 156,193,922 175,014,780 20,684,278 -Under/ (over) provision in respectof prior years 4,194,832 (359,961) - -Deferred tax (release)/ charge (Note 27) (1,225,080) (38,287,246) 4,637,818 (36,980,638)WHT on dividend paid by subsidiaries 3,796,234 4,835,536 - -162,959,908 141,203,109 25,322,096 (36,980,638)59