Sun Art Retail Group Limited - TodayIR.com

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2 TURNOVER AND SEGMENT REPORTING The principal activity of the Group is the operation of hypermarkets in the PRC. The Group is organised, for management purpose, into business units based on the banner under which the hypermarkets are operated. As all of the Group’s hypermarkets are located in the PRC, have similar economic characteristics, and are similar in respect of products and services provided and customer type, the Group has one reportable operating segment which is the operation of hypermarkets in the PRC. Turnover represents the sales value of goods supplied to customers and rental income from leasing areas in the hypermarket buildings. The amount of each significant category of revenue recognised in turnover is as follows: Year ended 31 December 2012 2011 RMB million RMB million Sales of goods 75,936 66,540 Rental income 1,915 1,544 77,851 68,084 The Group’s customer base is diversified and there is no customer with whom transactions have exceeded 10% of the Group’s revenues. 3 OTHER REVENUE Year ended 31 December 2012 2011 RMB million RMB million Service income 100 112 Disposal of packaging materials 82 84 Interest income on bank deposits 82 92 Interest income on available-for-sale financial assets 188 – Government grants 82 126 Compensation received in respect of a lease contract dispute 30 – 564 414 Government grants represent subsidies received from local authorities. Sun Art Retail Group Limited Annual Report 2012 75
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 4 PROFIT BEFORE TAXATION Profit before taxation is arrived at after charging/(crediting): (a) Finance costs Year ended 31 December 2012 2011 RMB million RMB million Interest expense on borrowings – wholly repayable within five years 4 82 – wholly repayable after five years 8 8 12 90 (b) Staff costs Year ended 31 December 2012 2011 RMB million RMB million Salaries, wages and other benefits 4,636 3,820 Contributions to defined contribution retirement plans (i) 508 382 Contributions to Employee Trust Benefit Schemes (ii) 263 210 Share-based payments (iii) 51 – 5,458 4,412 (i) Contributions to defined contribution retirement plans The Group participates in pension schemes organised by the PRC government whereby the Group is required to pay annual contributions based on the statutory percentage of the average salary level in the cities where the Group’s employees are employed. The Group remits all the pension fund contributions to the respective social security offices, which are responsible for the payments and liabilities relating to the pension funds. The Group has no obligation for payment of retirement and other post-retirement benefits of employees other than the contributions described above. 76 Sun Art Retail Group Limited Annual Report 2012
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Sun Art Retail Group Limited (Incor
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