notes to the financial statements - Investor Relations

CWT Limited
116
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2011
35 PROFIT BEFORE INCOME TAX
The following items have been included in arriving at profit before income tax:
Group
2011 2010
$’000 $’000
Staff costs 160,057 119,120
Contributions to defined contribution plan included in staff costs 11,670 9,466
Operating lease expense 57,280 50,064
Audit fees paid to:
- Auditors of the Company 541 443
- Other auditors 1,383 488
Non-audit fees paid to:
- Auditors of the Company 74 46
- Other auditors 808 270
Professional fees paid to a firm in which a director is a member 125 87
Depreciation of property, plant and equipment 21,854 16,559
Amortisation of:
- Intangible assets 5,308 1,599
- Deferred gain (32,871) (26,966)
Amounts written-off/(written back) for:
- Bad debts 108 (31)
Allowance/(reversal) of impairment losses on:
- Property, plant and equipment 378 (41)
- Intangible assets 127 –
- Trade receivables 729 350
Allowance for foreseeable losses 113 3,411
(Gain)/loss on disposal or liquidation of:
- Property, plant and equipment (2,792) 88
- Intangible assets 120 137
- Associates – (511)
- Subsidiaries (4,718) 89
- Jointly-controlled entity – (22)
- Non-current assets held-for-sale* – (147,581)
* This relates mainly to the gain on disposal of leasehold buildings under sale and leaseback arrangements.