Impaired trade and other receivables
The Group has recognised a loss of $4,471,000 (2009: $4,862,000) in respect of impaired trade receivables during the year ended 30 June 2010. The loss
has been included in ‘other expenses’ in the statement of comprehensive income.
All credit and recovery risk associated with trade receivables has been provided for in the statement of financial position. Management analyses each debt
on a case by case basis in assessing impairment of the receivable.
Movements in the provision for impaired receivables are as follows:
O ther
Trad e current
` debtors r eceivables
provision pr ovision T otal
2010 $’000 $’000 $’000
At 1 July 2009 4,747 - 4,747
Increase in provision* 2,199 - 2,199
Reduction in provision through cash recovery* (226) - (226)
Provision utilised to write-off debts (2,527) - (2,527)
Provision utilised to write-off debts relating to disposal of joint venture investment (345) - (345)
Foreign currency exchange differences 579 - 579
At 30 June 2010 4,427 - 4,427
O ther
Trad e current
` debtors r eceivables
provision pr ovision T otal
2009 $’000 $’000 $’000
At 1 July 2008 3,718 - 3,718
Increase in provision* 4,319 - 4,319
Reduction in provision through cash recovery* (112) - (112)
Provision utilised to write-off debts (3,902) - (3,902)
Foreign currency exchange differences 724 - 724
At 30 June 2009 4,747 - 4,747
* These items are included in “Other expenses” in the statement of comprehensive incomes.
Note 10. Current assets – Inventories
2010 2009
$’000 $’000
Raw materials 4,798 5,295
Work in progress 53,731 65,683
58,529 70,978
Inventories recognised as an expense during the year ended 30 June 2010 amounted to $281,552,000 (2009: $303,032,000).