CMB_1991 — Page 18

Notes on The Accounts (Continued)

2. TURNOVER

Turnover comprises fares and other income from the operation of franchised motor buses by the company.

3. PROFIT BEFORE EXCEPTIONAL ITEM

Profit before exceptional item is arrived at

after charging:-

The group

The company

1991

1990

1991

1990

$000's

$000's

$000's

$000's

Auditors' remuneration

current year

666

567

650

555

- prior year

46

46

44

45

Depreciation

28,840

28,535

28,757

28,437

Provision for employees' retirement gratuities

29,255

8,000

29,255

8,000

Provision for insurance

15,455

26,562

15,455

26,562

Provision for major repairs to motor buses

6,032

5,467

6,032

5,467

Operating lease charges for land and buildings

4,494

3,513

5,697

4,807

and after crediting

Income from listed investments

Exchange gain

39

32

818

664

818

664

4. EXCEPTIONAL ITEM

Exceptional item in 1990 represented the incremental provision for employees' retirement gratuities consequent upon revision of the employees' retirement scheme during 1990.

5. DIRECTORS' REMUNERATION

Directors' remuneration disclosed pursuant to section 161 of the Companies Ordinance is as follow:-

1991

1990

$000's

$000's

Fees

Bonus in accordance with article 155

Other emoluments

50

60

3,222

1,061

3,319

3,248

6,591

4,369

15