Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

2 Operating profit continued
The following items have been (credited)/charged in arriving at operating profit:
2005 2004
US$m US$m
Loss/(Gain) on disposal of other investments 0.2 (0.4)
Rental income
Depreciation of tangible assets (refer note 9)
(8.8) (8.9)
– Owned assets 29.0 29.9
– Leased assets 1.0 0.8
Revaluation surplus of tangible assets – (0.2)
Amortization of land use rights (refer note 8) 0.6 0.6
Directors’ remuneration 3.3 2.8
Operating lease payments 4.3 2.3
Development costs 0.8 0.3
Repairs and maintenance 15.3 13.6
Exchange differences 0.3 0.1
Staff costs
– Salaries and benefits in kind 147.4 136.1
– Defined benefit pension costs (refer note 12) 2.0 2.1
– Defined contribution pension costs 0.6 0.6
– Share-based payments 0.9 0.3
Average number of persons employed by the Company and its subsidiaries during the year:
150.9 139.1
2005 2004
Number Number
Full time 4,367 3,784
Part time 122 166
4,489 3,950
ANNUAL REPORT 2005 41