NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
109
Annual Report 2014
14.
Inventories
The Group
2014
2013
$’000
$’000
Raw materials
298,576
295,049
Work-in-progress
743,056
706,883
Finished goods
63
44,832
1,041,695
1,046,764
The cost of inventories recognised as an expense and included in “cost of sales” amounted to
$3,797,632,000 (2013: $3,066,475,000).
15.
Construction contract work-in-progress
The Group
2014
2013
$’000
$’000
Beginning of financial year
208,366
93,009
Contract costs incurred during the financial year
3,226,590
2,643,902
Contract expenses recognised in profit or loss
(3,261,063)
(2,537,414)
Currency translation differences
3,622
8,869
End of financial year
177,515
208,366
Aggregate costs incurred and profits recognised (less losses recognised)
to date on uncompleted construction contracts
4,929,113
3,563,072
Less: Progress billings
(1,657,781)
(1,682,434)
Currency translation differences
129,333
51,111
3,400,665
1,931,749
Presented as:
Due from customers on construction contracts (Note 13)
3,561,426
2,031,327
Due to customers on construction contracts (Note 26)
(160,761)
(99,578)
3,400,665
1,931,749
Advances received on construction contracts (Note 26)
344,271
495,181
Retentions on construction contracts
–
8,697
16.
Other current assets
The Group
The Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Deposits
2,974
2,660
–
16
Prepayments
18,455
12,575
164
160
21,429
15,235
164
176
