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Escher Group Holdings plc
Annual report 2011
37
Financial statements
Corporate governance
Business review
Overview
6. Exceptional items
Exceptional expenses of US$0.8 million relate to professional fees and other related expenses on the fundraising activities
which occurred in 2011. These are non-recurring one‑off expenses. There is no tax impact of these exceptional items.
7. Expenses by nature
2011
US$’000
2010
US$’000
Employee benefit expense (note 8)
4,921
5,650
Rental expense
525
468
Travel costs
543
493
Consulting expense
964
566
Insurance
372
286
Loss on foreign exchange
118
358
Legal fees
221
129
Direct selling and marketing costs
423
136
Depreciation
163
179
Amortisation of intangible assets
358
34
Data communications
226
181
Auditors’ remuneration
204
177
Professional fees
12
135
Directors’ remuneration
879
617
Movement in doubtful debts provision
192
—
Other expenses
419
456
Exceptional items (note 6)
828
—
Total
11,368
9,865
Analysed as:
Cost of sales
3,807
3,510
Research and development
1,948
1,772
Sales and marketing
1,954
1,451
Administrative expenses
3,659
3,132
Total
11,368
9,865
(a) The profit on ordinary activities before taxation, all of which arises from continuing operations, is stated after charging:
Directors’ remuneration
2011
US$’000
2010
US$’000
Emoluments:
– for services as Directors
100
—
– for other services
779
617
879
617