Punch Taverns plc 2011 Annual Report

Punch Taverns plc
Annual Report and Financial Statements 2011
63
3 Analysis of expenses
The following items have been included in arriving at operating profit from continuing operations:
52 weeks to
20 August
2011
£m
Restated
52 weeks to
21 August
2010
£m
Drink costs 243.9 250.5
Leasehold rentals 1 13.0 12.8
Depreciation 14.3 17.2
Amortisation 3.8 3.4
Impairment losses 367.0 209.1
Goodwill charge 82.7 5.8
(Profit) / loss on sale of non-current assets (3.1) 10.3
Other costs 85.9 65.6
Total costs deducted from revenue to determine operating profit 2 807.5 574.7
1
Includes utilisation of property lease provisions of £1.9m (August 2010: £1.5m).
2
Included within total costs are £117.8m of costs relating to the Spirit leased estate (August 2010: £71.0m). These are shown in more detail in note 6.
In addition there are further non-underlying costs of £32.7m, which are included within other costs above (August 2010: £7.2m).
Auditors’ remuneration is as follows:
52 weeks to
20 August
2011
£m
52 weeks to
21 August
2010
£m
Statutory audit services
Audit of Group financial statements 0.2 0.2
Audit of subsidiary companies pursuant to legislation – –
Governance Business review
Non-audit-related services
Other services 1 1.6 –
1
Relates to services provided in relation to the demerger of the Spirit business (note 9).
The accounts of the parent company do not include details of remuneration receivable by the auditor and its associates for non-audit
services, as the Group accounts are required to include this information as required by Regulation 5(1)(b) of the Companies (Disclosure
of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 on a consolidated basis.
Financial statements