Qantas 2008 Annual Report Download - page 92
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90 Qantas Annual Report 2008
2. Change in Accounting Policy continued
Notes to the Financial Statements
for the year ended 30 June 2008
Qantas Previously
Reported
Year Ended
30 June 2007
$M
Effect
of Adoption
of
Interpretation
13
Revised
Year Ended 30
June 2007
$M Sales and Other Income
Net passenger revenue 10,137.9 (45.8) 10,092.1
Net freight revenue 902.0 – 902.0
Contract work revenue 348.6 – 348.6
Other 1,302.2 (57.9) 1,244.3
Sales and other income 12,690.7 (103.7) 12,587.0
Expenditure
Manpower and staff related 2,715.2 – 2,715.2
Aircraft operating – variable 2,373.2 – 2,373.2
Fuel 2,927.0 – 2,927.0
Selling and marketing1684.1 (34.9) 649.2
Property 309.0 – 309.0
Computer and communication1267.9 – 267.9
Capacity hire1348.2 – 348.2
Ineffective and non-designated derivatives – closed positions 67.6 – 67.6
Other1513.9 – 513.9
Depreciation and amortisation 1,266.8 – 1,266.8
Non-cancellable operating lease rentals 442.9 – 442.9
Expenditure 11,915. 8 (3 4.9) 11, 880.9
Operating result 774.9 (68.8) 706.1
Ineffective and non-designated derivatives – open positions (54.1) – (54.1)
Profit before related income tax expense and net finance costs 720.8 (68.8) 652.0
Finance income 226.6 – 226.6
Finance costs (272.3) 4.1 (268.2)
Net finance costs (45.7) 4.1 (41.6)
Profit before related income tax expense 675.1 (64.7) 610.4
Income tax expense (216.5) 19.4 (197.1)
Profit for the year 458.6 (45.3) 413.3
Previously repor ted balances have been reclassifi ed as a result of the implementation of a common chart of accounts throughout the Qantas Group.
3. Segment Reporting
(A) Business segments
The Qantas Group comprises the following main business segments:
Qantas – representing the Qantas domestic and international airline and QantasLink regional fl ying businesses, which are supported by the Qantas
Engineering and Airports businesses;
Jetstar – representing the Jetstar domestic and international fl ying businesses as well as the Qantas Group’s investments in Asian low-cost carriers;
Qantas Freight – representing the air cargo freight and domestic express freight businesses as well as the Qantas Group’s investments in Australian
and international express freight businesses;
Qantas Frequent Flyer – representing the Qantas Frequent Flyer customer loyalty program;
Qantas Holidays – representing the wholesale travel and holidays business; and
Qantas Catering – representing the infl ight catering business.
Costs associated with the centralised management and governance of the Qantas Group, together with certain items which are not allocated
to business segments, are reported in Corporate/Unallocated.
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