SAPPI LIMITED

SAPPI
NOTES TO THE CONDENSED SAPPI LIMITED COMPANY FINANCIAL STATEMENTS
for the year ended September 2010
1. OPERATING LOSS
The operating loss is arrived at after taking into account the items detailed below:
2010 2009
(ZAR million)
Depreciation ........................................
Technical and administrative services paid other than to bona fide
1 2
employees of the company ........................... 5 10
Auditors’ remuneration ................................ 13 12
—fees for audit and related services ...................... 9 8
—fees for other services ............................... 4 4
—fees for Acquisition and related services .................. — —
Directors remuneration ................................ 21 19
Staff costs ......................................... 119 96
Management fees received from subsidiaries ................ 227 211
Impairment of investment .............................. — —
2. INCOME FROM SUBSIDIARIES
2010 2009
(ZAR million)
Dividends received from subsidiaries ....................... 22 82
Less: Pre-acquisition portion ............................. — (82)
22 —
3. NET FINANCE INCOME
2010 2009
(ZAR million)
Interest paid ......................................... — —
Interest received ...................................... 4 35
Net foreign exchange gains (losses) ........................ 3 (14)
7 21
4. COMMITMENTS
2010 2009
(ZAR million)
Operating leases and rentals
Payable within one year .............................. 1 1
Payable within two to five years ......................... — 1
1 2
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