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51VTech Holdings Limited Annual Report 2014
2 Operating Profit
Operating profit is arrived at after charging/(crediting) the following:
Note
2014
US$ million
2013
(Restated)
US$ million
Staff related costs
– salaries and wages 272.9 267.3
– pension costs: defined
contribution schemes 15(a) 14.5 11.4
– pension costs: defined
benefit scheme 15(b) 2.0 2.2
– severance payments 2.5 1.0
– share-based payment
expenses 1.4 0.9
293.3 282.8
Cost of inventories 10(b) 1,264.6 1,260.2
Depreciation of tangible assets 7 31.2 29.2
Amortisation of leasehold land
payments 8 0.1 0.1
Gain on disposal of tangible
assets (0.1) (0.1)
Auditors’ remuneration
– audit services 0.8 0.8
– audit related services 0.1 0.1
– tax services 0.5 0.4
Note
2014
US$ million
2013
(Restated)
US$ million
Operating leases charges:
minimum lease payments
– land and buildings 16.0 15.0
– others 3.0 2.2
Impairment loss of trade debtors 11(b) 0.6 1.7
Impairment loss of trade debtors
written back 11(b) (0.7) –
Royalties 22.2 21.1
Provision for defective goods
returns 14 26.4 25.4
Net foreign exchange loss/(gain) 0.4 (0.4)
Net loss/(gain) on forward
foreign exchange contracts
– Net gain on cash flow
hedging instruments
reclassified from equity (2.3) (1.5)
– Net loss/(gain) on forward
foreign exchange
contracts 0.5 (0.8)
3 Directors’ Emoluments and Individuals with Highest Emoluments
Directors’ remunerations disclosed pursuant to section 78 of Schedule 11 to the new Hong Kong Companies Ordinance (Cap. 622), with
reference to section 161 of the predecessor Hong Kong Companies Ordinance (Cap. 32) is as follows:
Directors’ emoluments
Fees
Salaries,
allowances
and benefits
in kind
Discretionary
bonuses
Contributions
to retirement
benefit
schemes
Share-based
payments (vii)
2014
Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive Directors (i)
Allan WONG Chi Yun (iii) – 0.9 2.0 0.1 – 3.0
PANG King Fai – 0.5 1.5 – – 2.0
Andy LEUNG Hon Kwong – 0.5 1.7 – – 2.2
Independent Non-executive
Directors (ii)
William FUNG Kwok Lun ––––––
Denis Morgie HO Pak Cho (iv) ––––––
Michael TIEN Puk Sun ––––––
Patrick WANG Shui Chung ––––––
WONG Kai Man (v) ––––––
– 1.9 5.2 0.1 – 7.2
Fees
Salaries,
allowances
and benefits
in kind
Discretionary
bonuses
Contributions
to retirement
benefit
schemes
Share-based
payments (vii)
2013
Total
US$ million US$ million US$ million US$ million US$ million US$ million
Executive Directors (i)
Allan WONG Chi Yun (iii) – 0.9 2.1 0.1 – 3.1
PANG King Fai – 0.5 0.7 – – 1.2
Andy LEUNG Hon Kwong – 0.5 0.8 – – 1.3
Independent Non-executive
Directors (ii)
William FUNG Kwok Lun – – – – – –
Denis Morgie HO Pak Cho – – – – – –
David SUN Tak Kei (vi) ––––––
Michael TIEN Puk Sun – – – – – –
Patrick WANG Shui Chung – – – – – –
WONG Kai Man (v) ––––––
– 1.9 3.6 0.1 – 5.6