AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

4

REVENUE AND EXPENSES (CONTINUED)

2023 $’000

2022 $’000

(d) Costs to provide services and administration expenses Salaries and wages

403,164 43,571 26,045 17,097 35,920

162,400

Business technology and software costs

20,190 17,990 10,369

Commission expense

Amortisation/impairment of right of use asset and rent expense

Amortisation of broking registers Amortisation of other financial assets Amortisation of capitalised project costs

9,341

1,104 2,365 3,876

839 675

Depreciation

2,333 12,778 7,924 6,470 20,862

Insurance

22,776 29,826 21,150 19,349 10,591 23,791 660,625

Advertising, marketing and travel costs Consulting, accounting, and audit fees

Legal fees/acquisition costs

Share-based payments

2,365 8,165

Other expenses

Total cost to provide services and administrative expenses

282,701

(e) Finance costs Interest paid and other borrowing costs

44,673

5,510 1,006

Interest unwind on lease liability Interest unwind on put option liability Interest unwind on contingent consideration Finance charge on profits of trust minority interests

4,001

303

234

12,126 10,999 72,102

– –

Total finance costs

6,750

(f) Adjustments to carrying value Fair value adjustment relating to the carrying value of associates and goodwill

29,930 (26,920) (3,317)

40,715

Adjustment to contingent consideration on acquisitions

411

Remeasurement of put option liability

(870)

I mpairment charge relating to the carrying value of goodwill and intangible assets (see Note 13)

(6,342) (6,649)

(8,439) 31,817

Total adjustments to carrying value

(g) P rofit from sale or dilution of interests in associates, controlled entities and broking portfolios Profit on sale of controlled entities leading to deconsolidation (Note 7 (b))

4,447

3,928 3,322

Profit from sale or dilution of interests in associates and broking register

34,599

T otal profit from sale or dilution of interests in associates, controlled entities and broking portfolios

39,046

7,250

AUB GROUP ANNUAL REPORT 2023

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