/ . 1 0 0
E U R O S P O R T S G L O B A L L I M I T E D
Notes to
the F iNaNci al statemeNts
3 1 ma r ch 2 0 1 5
25 . ope r a t i ng L e a s e Pa ymen t Commi tmen t s – a s L e s s e e
At the end of the reporting year the total of future minimum lease payment commitments under non-cancellable
operating leases are as follows:
group
2015
$’000
2014
$’000
Not later than one year
4,258
3,415
Later than one year and not later than five years
15,706
17,979
19,964
21,394
Rental expense for the year
4,321
453
Operating lease payments are for rentals payable for warehouses, office and showroom premises. The lease rental
terms are negotiated for an average term of six years and rentals are subject to an escalation clause but the amount of
the rent increase is not to exceed a certain percentage.
26 . ope r a t i ng L e a s e i ncome Commi tmen t s – a s L e s s o r
At the end of the reporting year the total of future minimum lease receivables commitments under non-cancellable
operating leases are as follows:
group
2015
$’000
2014
$’000
Not later than one year
1,352
388
Later than one year and not later than five years
2,592
–
3,944
388
Rental income for the year
1,236
729
Operating lease income commitments are for office premises and leasing of automobiles. The lease rental income
terms are negotiated for an average term of five years.
