Annual Report & Accounts 2006 - Euromoney Institutional Investor ...

4 Operating profitTotalTotal2006 2005£000’s£000’sRevenue 220,476 194,832Cost of sales (74,924) (63,523)Gross profit 145,552 131,309Distribution costs (4,625) (4,894)Administrative expenses (102,403) (88,762)Operating profit before associates and joint ventures 38,524 37,653Administrative expenses includes goodwill impairment of £519,000 (2005: £nil), loss on disposal of businesses of £1,483,000 (2005: £315,000) andprofit on sale of property £1,286,000 (2005: £nil).2006 2005Operating profit is stated after charging/(crediting): £000’s £000’sStaff costs (note 6) 75,567 66,425Intangibles amortisationAcquired intangible amortisation 144 –Licenses and software 237 150Goodwill impairment 519 –Depreciation of property plant and equipment 2,925 1,595Auditors’ remuneration:Group 512 475Fees for non-audit services 222 141Property operating lease rentals 4,431 4,491Profit on sale of property (1,286) –Foreign exchange gains 503 (1,576)2006 2005The audit and non-audit services relate to: £000’s £000’sFees payable for the audit of the company’s annual accounts 318 270Fees payable for other services to the group 194 205Total audit fees 512 475Other audit servicesOther services pursuant to legislation 85 47Tax services 110 56Other services 27 38Total non-audit fees 222 141In addition to the above amounts, non-audit fees of £365,000 (2005: £83,000) arose in respect of acquisitions.Annual Report and Financial Statements 2006 53