NOTES TO THE FINANCIAL STATEMENTS CONTINUED
The Group Parent Entity
2007
$’000
2006
$’000
2007
$’000
2006
$’000
NOTE 4 — PROFIT BEFORE INCOME TAX
(CONTINUED)
(b) Individually significant items
Profit before income tax includes the following revenues/
(expenses) whose disclosure is relevant in explaining the
financial performance of the Group:
Other income
Dividend from a listed company
Profit on sale of investments in listed companies
Disposal and restructure of certain cinema
partnership interests
Doubtful debtor allowance reversal
Plant and equipment impairment write-downs
Impairment write-down in value of underperforming
cinema sites
Impairment write-down of furnishings and replacement
items due to hotel revitalisation program
Other expenses
Provision for onerous contracts relating to lease for
closed cinema sites
Settlement of legal claim not recoverable from insurance
due to collapse of HIH Insurance
Lease renegotiation payment
Write-back of onerous lease provision
Individually significant items in equity accounted results
Share of impairment write-down in carrying value of
underperforming cinema sites in partnerships
Individually significant items relating to discontinued operations
Profit on sale of Pier 26 Bar and Café business
2,287
18,069
—
—
—
—
(3,300)
(1,424)
—
—
(2,590)
7,476
—
5,759
2,154
2,365
(5,174)
(2,080)
—
—
(1,624)
2,250
(1,000)
—
—
3,779
—
—
—
—
—
—
—
—
—
—
—
5,759
—
—
—
—
—
—
—
—
—
—
20,518 2,650 3,779 5,759
NOTE 5 — DISCONTINUED OPERATIONS
2007
On 25 June 2007, the sale of the Pier 26 Bar and Café business in Australia
was concluded. This operation was not a
discontinued operation at the end of the prior financial year (30 June 2006)
and the comparative Income Statement for the
year end 30 June 2006 has been represented to show the discontinued operation
separately from continuing operations.
2006
The sale of the Matilda Cruises business was completed on 9 November 2005.
Analysis of profit and loss of discontinued operations
The Group
2007 2006
$’000 $’000
Revenue from sale of goods 4,296 8,986
Revenue from rendering of services 38 304
Rental revenue 696 466
5,030 9,756
Advertising, commissions and marketing expenses (60) (261)
Depreciation and amortisation (198) (397)
Employee expenses (1,412) (3,644)
Occupancy expenses (480) (1,578)
Purchases and other direct expenses (1,218) (2,472)
Other expenses (637) (1,665)
(4,005) (10,017)
Profit/(loss) before income tax 1,025 (261)
Income tax (expense)/benefit (333) 712
Profit after income tax for discontinued operations 692 451
Gain on sale of discontinued operations 7,476 —
Profit 8,168 451
During the 12 months to 30 June 2007, the discontinued operations had cash
inflows from operating activities of $1,223,000
(2006: $136,000), cash inflows from investing activities on disposal of $17,529,000
(2006: $2,000,000) and cash
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