In this section
Financial Statements
Notes to the financial statements
for the year ended 31 December 2011
11 Staff costs
| 2011 USD’000 | 2010 USD’000 | |
|---|---|---|
| Wages and salaries | 100,214 | 61,077 |
| Employees’ end of service benefits (Note 31) | 8,508 | 4,446 |
| Share-based payments – value of services provided (Note 9) | 1,439 | 2,060 |
| Other benefits | 60,260 | 39,591 |
| 170,421 | 107,174 | |
| Staff costs are included in: | ||
| Cost of sales (Note 6) | 136,221 | 86,950 |
| General and administrative expenses (Note 10) | 34,200 | 20,224 |
| 170,421 | 107,174 | |
| Number of employees at 31 December | 9,496 | 4,476 |
Directors’ remuneration comprises:
| Salary 2011 USD’000 |
Fees 2011 USD’000 |
Allowances & benefits 2011 USD’000 |
Bonus 2011 USD’000 |
Share- based payments value of services provided 2011 USD’000 |
Post employ- ment benefits 2011 USD’000 |
Total 2011 USD’000 |
Total 2010 USD’000 |
|
|---|---|---|---|---|---|---|---|---|
| Executive Directors | ||||||||
| Nigel McCue | 801 | – | 195 | 580 | 414 | 65 | 2,055 | 2,199 |
| Chris Hand* | 369 | – | 259 | 247 | 90 | 142 | 1,107 | – |
| Scott Doak^ | 394 | – | 180 | 255 | 118 | 43 | 990 | 1,295 |
| Jonathan Cooper^^ | 68 | – | 24 | 45 | 4 | 4 | 145 | – |
| Non-Executive Directors | ||||||||
| Jonathan Silver | – | 215 | – | – | – | – | 215 | 156 |
| Colin Goodall | – | 128 | – | – | – | – | 128 | 119 |
| Richard Raynaut | – | 76 | – | – | – | – | 76 | 71 |
| Brian Fredrick | – | 76 | – | – | – | – | 76 | 70 |
| 1,632 | 495 | 658 | 1,127 | 626 | 254 | 4,792 | 3,910 |
The emoluments of the highest paid Director were USD 2.1m (2010: USD 2.2m) and these principally comprised salary, benefits, bonus and share-based payments.
*Appointed as a Director on 26 January 2011.
^Resigned as Chief Financial Officer and Director with effect from 30 October 2011.
^^Appointed as Chief Financial Officer and Director on 30 October 2011.
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