AMEC Annual Report 2000

3 Total operating profit/(loss) continued
Total operating profit includes the following in respect of acquisitions: cost of sales of £399.8 million, gross profit of £96.0 million and
administrative expenses (before goodwill amortisation) of £76.3 million. Share of turnover and operating profit in joint ventures in respect
of acquisitions amounted to £19.8 million and £0.6 million respectively.
In addition to the above amounts, due diligence fees paid to KPMG Audit Plc of £0.6 million were capitalised as part of the costs
of acquisitions in the year ended 31 December 2000.
For the year ended 31 December 1999, total operating profit included the following in respect of discontinued operations: cost of sales
of £35.5 million, gross profit of £2.8 million and administrative expenses of £3.0 million.
The results of AGRA Inc. under Canadian GAAP and using AGRA’s accounting policies for the period from 1 August 1999 to 20 April 2000
were as follows: revenue Cdn$1,092.5 million, expenses Cdn$1,083.2 million, restructuring charges Cdn$18.2 million, income tax
creditCdn$4.1 million, minority interests charge Cdn$1.0 million and charge in respect of discontinued operations Cdn$1.0 million.
The statement of total recognised gains and losses for the period includes the loss for the period of Cdn$6.8 million and a charge
in respect of exchange movements of Cdn$6.5 million.
Profit after tax and minority interests for the year ended 31 July 1999 as reported by AGRA inc. was Cdn$22.6 million.
4 Non-operating exceptional items
2000 1999
£ million £ million
(Loss)/profit on disposal of operations:
Client support services (2000 – includes attributable goodwill of £3.4 million) (2.4) –
Capital projects (2000 – includes attributable goodwill of £0.2 million) (3.3) 2.5
Investments (1999 – includes attributable goodwill of £15.8 million) (4.7) (1.7)
(10.4) 0.8
Loss on disposal of fixed assets – (3.0)
5 Directors’ remuneration and related matters
(10.4) (2.2)
2000 1999
£000 £000
Directors’ emoluments 2,429 2,295
Gains on exercise of share options 149 1,528
The aggregate emoluments of the highest paid director were £669,000 (1999 – £584,000). He had no gains on the exercise of share options
in 2000 or 1999.
More detailed information concerning directors’ remuneration, including pension benefits and long-term incentive arrangements, is set out
in the report on remuneration and related matters on pages 35 to 38.
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