Page 41 - GROUP 3 NAKED HOTEL LIMITED ANNUAL REPORT

5. Profit before taxation was stated after charging:
2016 2015
$'000 $'000
Depreciation 7,025 7,000
Director's emoluments

Fees 1,200 1,200
Management remuneration 12,375 11,250
Interest Expense 15,000 20,000
Auditor's remuneration
Current year 1,260 1,095
Prior year 18 16
Staff Costs (see note 16) 47,713 44,516

6. Finance Cost
2016 2015
$’000 $’000

Interest Expense 15,000 20,000

7. Redundancy Cost
The redundancy cost is a consequence of the implementation of a restructure and reorganization
programme.

8. Taxation
Income tax is computed at 33 1/3% of the profit for the year as adjusted for tax purposes. The
charge for taxation comprises:

2016 2015
$'000 $'000
Income tax at 33⅓% 39,509 33,713
Prior year under- provision/(over-provision) 1,386 -

Investment Income Tax 2,160 (15)
Deferred Tax Adjustment 278 (1,526)
Actual Tax Charge 43,333 32,172

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