CITIC Limited Half-Year Report 2019

56 CITIC Limited Half-Year Report 2019 For the six months ended 30 June 2019 8 Net finance charges Six months ended 30 June 2019 2018 HK$ million HK$ million Finance costs – Interest on bank and other loans 3,310 3,123 – Interest on debt instruments issued 2,844 2,958 – Interest and finance charges paid/payable for lease liabilities 332 N/A 6,486 6,081 Less: interest expense capitalised (90) (88) 6,396 5,993 Other finance charges 148 160 6,544 6,153 Finance income (1,355) (805) 5,189 5,348 9 Profit before taxation Profit before taxation is arrived at after charging below costs and expenses in cost of sales and services and other operating expenses: (a) Staff costs Six months ended 30 June 2019 2018 HK$ million HK$ million Salaries and bonuses 23,931 22,127 Contributions to defined contribution retirement schemes 2,285 2,301 Others 4,271 4,249 30,487 28,677 (b) Other items Six months ended 30 June 2019 2018 HK$ million HK$ million Amortisation 1,168 1,262 Depreciation (note) 9,220 6,195 Lease charges (note) 875 4,066 Tax and surcharges 1,296 1,318 Property management fees 601 565 Non-operating expenses 275 144 Professional fees 546 515 13,981 14,065 Note: Since 1 January 2019, according to HKFRS 16, ROU assets are depreciated on a straight-line basis, while short-term and low-value leases are recorded at lease charges. Notes to the Consolidated Financial Statements