178 / 280
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
176
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
2014
R’000
2013
R’000
19.
OPERATING PROFIT
The following items have been charged/(credited) in arriving
at operating profit:
Acquisition-related costs
2 901
98
Advertising and promotional expenses
19 173
11 079
Amortisation of intangible assets
95 004
78 930
Audit fees – services as auditors
14 367
11 816
Audit fees – other
1 578
942
Bank charges
7 670
5 344
Communication costs
5 143
6 290
Consulting fees
25 230
17 533
Courier and postage
4 103
3 311
Depreciation
36 976
36 911
Foreign exchange profit*
(16 458)
(8 101)
Impairment of loans
1 761
8 400
Impairment of trade receivables
4 164
8 381
Impairment of trade receivables – provision
1 564
(4 386)
Impairment of intangible assets
1 073
—
Impairment of property, plant and equipment
129
3 408
Impairment of inventory
411
1 453
Insurance
7 081
6 491
IT infrastructure costs and computer-related costs
22 756
19 480
Legal fees
25 311
34 595
Local travel
6 157
6 459
Profit on disposal of subsidiaries
—
(120)
Profit on disposal of joint ventures
—
(2 273)
Management fees paid
5 324
2 208
Management fees received*
(879)
(923)
Motor vehicle expenses
9 500
8 886
Operating lease rentals – equipment
2 367
3 568
Operating lease rentals – premises
31 093
29 948
Overseas travel
3 194
2 891
Printing and stationery
1 826
1 758
Profit on disposal of property, plant and equipment*
(287)
(789)
Repairs and maintenance
11 273
10 897
* Included in other income on the Group statement of comprehensive income.