Holiday Inn 2008 Annual Report Download - page 69
Download and view the complete annual report
Please find page 69 of the 2008 Holiday Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
 |
 |
Notes to the Group financial statements 67
5 Exceptional items
2008 2007
Note $m $m
Continuing operations
Exceptional operating items:
Administrative expenses:
Holiday Inn brand relaunch a(35) –
Office reorganisations b(5) (14)
Severance costs c(19) –
(59) (14)
Other operating income and expenses:
Gain on sale of associate investments 13 22
Gain on sale of other financial assets 14 36
Loss on disposal of hotels (note 11)* (2) –
Office reorganisations b–12
25 70
Depreciation and amortisation:
Office reorganisations b(2) (2)
Impairment:
Property, plant and equipment (note 10) (12) 6
Goodwill (note 12) (63) –
Intangible assets (note 13) (21) –
(96) 6
(132) 60
Tax:
Tax on exceptional operating items 17 –
Exceptional tax credit d25 60
42 60
Discontinued operations
Gain on disposal of assets (note 11):
Gain on disposal of hotels** –40
Tax charge 5(8)
532
* Relates to hotels classified as continuing operations.
** Relates to hotels classified as discontinued operations.
The above items are treated as exceptional by reason of their size or nature.
a Relates to costs incurred in support of the worldwide relaunch of the Holiday Inn brand family that was announced on 24 October 2007.
b Relates to further costs incurred on the relocation of the Group’s head office and the closure of its Aylesbury facility.
c Severance costs relate to redundancies arising from a review of the Group’s cost base in light of the current economic climate.
d Relates to the release of provisions which are exceptional by reason of their size or nature relating to tax matters which have been
settled or in respect of which the relevant statutory limitation period has expired.
GROUP FINANCIAL
STATEMENTS