| 2015
£m | 2014
£m |
|---|
| Revenue | 567.2 | 609.1 |
| Cost of sales | (359.0) | (382.0) |
| Gross profit | 208.2 | 227.1 |
| Other operating income | 4.1 | 5.4 |
| Distribution costs | (18.5) | (17.9) |
| Administration expenses* | (93.8) | (102.1) |
| Other operating income / (expenses) | 2.1 | (1.4) |
| Headline operating profit | 102.1 | 111.1 |
| Amortisation of acquired intangible fixed assets* | (4.2) | (3.9) |
| Operating profit prior to exceptional items | 97.9 | 107.2 |
| Exceptional items* | (20.0) | (0.2) |
| Operating profit | 77.9 | 107.0 |
* Administration and exceptional expenses total £118.0m (2014: £106.2m).
Exceptional items comprise:
| 2015
£m | 2014
£m |
|---|
| Acquisition costs | – | 0.2 |
| Reorganisation costs | 20.0 | – |
| 20.0 | 0.2 |
Further details of these items are included in the Finance Director's report.
Profit for the year has been arrived at after charging / (crediting):
| 2015
£m | 2014
£m |
|---|
| Net foreign exchange losses | 0.4 | 0.1 |
| Inventory expensed | 44.5 | 51.9 |
| Depreciation of property, plant and equipment | 48.8 | 50.3 |
| Amortisation of intangible fixed assets | 5.0 | 4.8 |
| Gain on disposal of property, plant and equipment | (2.1) | (1.4) |
| Staff costs (see note 4) | 220.3 | 234.9 |
| Impairment loss on trade receivables | 1.3 | 0.1 |
| Impairment of fixed assets - recognised in exceptional items | 9.0 | – |
| Impairment of fixed assets - recognised in operating profit | – | 2.7 |
| Impairment of other assets - recognised in exceptional items | 0.5 | – |
The analysis of auditor's remuneration on a worldwide basis is as follows:
| 2015
£m | 2014
£m |
|---|
| Fees payable to the Company's auditor for the audit of the Company's annual accounts | 0.1 | 0.1 |
| Fees payable to the Company's auditor and its associates for other services: | | |
| The audit of the Company's subsidiaries | 0.6 | 0.6 |
| Total audit fees | 0.7 | 0.7 |
| Audit related assurance services* | 0.1 | 0.1 |
| Taxation compliance services | 0.1 | 0.1 |
| Total non-audit fees | 0.2 | 0.2 |
| 0.9 | 0.9 |
In addition to the amounts shown above, the auditor received fees of £5,900 (2014: £5,750) for the audit of the Group's pension schemes.
Fees paid to Deloitte LLP and its associates for non-audit services to the Company are not required to be disclosed.
A description of the work of the Audit Committee is set out in the Audit Committee report and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditor.
*This includes £0.1m (2014: £0.1m) for the review of the half year report.