notes to the financial statements for the year ... - Investing In Africa

NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2009 (continued)11. INVENTORIES2009 2008KShs’000KShs’000Consumables 436,317 539,518Raw materials 268,124 381,673Work-in-progress 3,724 7,465Finished products 64,045 70,574Goods-in-transit 20,396 33,922792,606 1,033,152East African Portland Cement Co. Ltd Annual Report and Financial Statements FY 2008/20095212. RELATED PARTIES AND RELATED PARTY TRANSACTIONS2009 2008KShs’000KShs’000Outstanding balances arising from transactions with related companies.(a) Amount due from related party:Bamburi Cement Limited 58,972 -The amount relates to deposits made by the company to Bamburi Cement Limited for the purchase of clinker.Bamburi Cement Limited owns 12.5% of the shareholding in The East African Portland Cement Company Limited.No interest is charged on the balances due from related companies, which are due within 2 months of the date of thetransactions.The following transactions were carried out with related parties:-(b) Purchases from related parties: 2009 2008KShs’000KShs’000Purchase of clinker from Bamburi Cement Limited 326,949 548,682(c)Directors’ remuneration:Fees for services as directors 1,160 1,260Other emoluments 20,765 18,735(d)Key management compensation:21,925 19,995Short-term employee benefi ts 24,921 18,638Termination benefi ts 3,148 -Medical benefi ts 652 34128,721 18,979