DairyCrest

Notes to the financial statements

9 Remuneration of employees and key management personnel

Number of employees (continuing operations) – Group

Year ended

31 March 2014

number

Year ended

31 March 2013

number

Average number of employees:

Production

1,859

2,036

Sales, distribution and administration

2,686

3,247

Total employees

4,545

5,283

Remuneration of employees, including key management personnel (continuing operations)

Year ended

31 March 2014

£m

Year ended

31 March 2013

£m

Wages and salaries

157.0

176.5

Social security costs

15.2

17.2

Equity settled share based payments expense (Note 26)

1.5

1.9

Pension costs (Note 20)

7.0

7.1

180.7

202.7

The above costs relate to continuing operations and include amounts paid to the Company’s Executive and Non-executive Directors.

Further analysis is as follows:

Directors

Year ended

31 March 2014

£000

Year ended

31 March 2013

£000

Salaries and benefits

1,374

1,528

Bonuses

833

613

Fees to Non-Executive Directors

327

331

Emoluments

2,534

2,472

Severance payments

577

Employer payments to defined contribution pension scheme

39

31

Gain on exercise of sharesave options

15

Highest paid director

Salary and benefits

656

656

Bonus

423

272

Emoluments

1,079

928

Employer payments to defined contribution pension scheme

9

9

Gain on exercise of sharesave options

5

Further information relating to directors’ remuneration for the year ended 31 March 2014 is provided in the Directors’ Remuneration Report on pages 45 to 62.