BT 1998 Annual Report Download - page 70

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O T E S T O TH E F I N A N C I A L S TAT E M E N T S
25. Pension costs (continued)
Certain activities of the BTPS are carried out at the company’s pension centre, all costs of which are borne by the company.
These costs have not been apportioned for accounting purposes between those attributable to the BTPS and those attributable
to the company because functions maintained for both entities cannot be meaningfully divided between them. The company
occupies eight properties owned by the scheme on which an annual rental of £3m is payable.
The BTPS assets are invested in UK and overseas equities, UK and overseas properties, fixed interest and index linked securities,
deposits and short-term investments. At 31 March 1998, the UK equities included 42 million (1997 – 56 million) ordinary shares
of the company with a market value of £270m (1997 – £250m).
26. Directors
Directors’ emoluments
The emoluments of the directors for the year ended 31 March 1998 and the gains made by them on the exercise of share
options were, in summary, as follows:
1998 1997 1996
£000 £000(a) £000(a)
))))))))))))01111110051111
Salaries 1,578 1,543 1,471
Performance-related bonus 882 636 543
Deferred bonus 222 – –
Other benefits 114 94 71
00000000000511!!!001001111
2,796 2,273 2,085
Payments to non-executive directors (b) 259 273 381
00000000000511!!!001001111
Total emoluments 3,055 2,546 2,466
00000000000511!!!001001111
Gain on the exercise of share options 857 93 6
00000000000511!!!001001111
(a) Comparative figures have been restated.
(b) Payments to non-executive directors include fees paid to their principal employer of £38,000 (1997 – £31,000, 1996 – £24,000).
More detailed information concerning directors’ remuneration, shareholdings, options and long-term incentive plans is shown
in the report on directors’ remuneration on pages 33 to 40.
1998 1997 1996
))))))%!!!!!!!0051111!!!0051111!!!0051111
Year end Average Year end Average Year end Average
27. People employed ’000 ’000 ’000 ’000 ’000 ’000
00000051111!!!0051111!!!0051111!!!0051111
Number of employees in the group:
UK 120.2 124.9 123.3 125.8 127.8 132.6
International 4.5 4.3 4.2 3.8 2.9 2.6
00000051111!!!0051111!!!0051111!!!0051111
Total employees 124.7 129.2 127.5 129.6 130.7 135.2
00000051111!!!0051111!!!0051111!!!0051111