9 Profit for the financial year attributable to shareholders

As permitted by Section 230 of the Companies Act 1985, the Company has not presented its own profit and loss account. Of the profit for the financial year attributable to shareholders, a loss of £1.2 million (2001: £112.1 million) is dealt with in the financial statements of the Company.

10 Fees paid to auditors
	Group				Company
	2002 £million		2001 £million		2002 £million		2001 £million
Audit fees and expenses	0.5		0.4		-		-
Other fees paid to the Company's auditors:
United Kingdom	0.3		2.7		-		2.2
Overseas	0.3		0.2		-		-
	0.6		2.9		-		2.2
Analysis of other fees by type of service:
Accounting	0.1		0.1		-		-
Tax	0.4		0.6		-		-
Advisory	0.1		2.2		-		2.2
	0.6		2.9		-		2.2
Advisory fees in 2002 mainly relate to the acquisition whereas in 2001 they were incurred in preparing the Company for sale.

11 Employees
	2002 £million	2001 restated £million
Employee costs:
Wages and salaries	62.1	79.5
Social security costs	5.0	6.8
Pension costs (including other post-retirement costs)	5.4	6.5
	72.5	92.8
	2002 Number	2001 Number
Average number of persons employed:
Chromium	436	446
Pigments & Specialties	1,140	1,157
Specialty Rubber	605	645
Continuing operations	2,181	2,248
Discontinued operations	-	434
	2,181	2,682

12 Directors’ emoluments

Detailed information on directors' emoluments, including performance related bonuses and long-term incentives, is provided in the Directors' remuneration report.

13 Related party transactions

There were no material related party transactions entered into during 2002.

14 Goodwill
	£million
Group
Cost
At 1 January 2002	272.7
Currency translation differences	(23.2	)
At 31 December 2002	249.5
Amortisation
At 1 January 2002	53.5
Charge for the year	13.5
Currency translation differences	(5.4	)
At 31 December 2002	61.6
Net book value
At 31 December 2002	187.9
At 31 December 2001	219.2

15 Tangible fixed assets
	Land & buildings £million		Plant & machinery £million		Fixtures, fittings, tools & equipment £million		Under construction £million		Total £million
Group
Cost
At 1 January 2002	99.9		280.7		21.3		6.5		408.4
Additions	-		1.8		0.5		13.4		15.7
Disposals	(6.2	)	(2.9	)	(1.2	)	-		(10.3	)
Business acquisition	2.7		19.1		-		-		21.8
Business disposal	-		(2.4	)	-		-		(2.4	)
Transfers	1.8		3.3		0.7		(5.8	)	-
Reclassification	-		1.4		-		-		1.4
Currency translation differences	(4.9	)	(13.8	)	(1.2	)	(1.0	)	(20.9	)
At 31 December 2002	93.3		287.2		20.1		13.1		413.7
Depreciation
At 1 January 2002	42.6		157.6		16.2		-		216.4
Charge for the year	3.0		13.4		1.9		-		18.3
Disposals	(2.1	)	(0.7	)	(1.1	)	-		(3.9	)
Business disposal	-		(1.2	)	-		-		(1.2	)
Impairment charge	5.7		27.2		-		0.3		33.2
Reclassification	(0.3	)	0.3		-		-		-
Currency translation differences	(2.2	)	(7.9	)	(0.9	)	-		(11.0	)
At 31 December 2002	46.7		188.7		16.1		0.3		251.8
Net book value
At 31 December 2002	46.6		98.5		4.0		12.8		161.9
At 31 December 2001	57.3		123.1		5.1		6.5		192.0
Group capital expenditure contracted but not provided for in these financial statements amounted to £0.6 million (2001:£1.2 million). During the year £0.1 million (2001:£nil million) was released to the profit and loss account in respect of government grants received.

Land and buildings at cost comprised the following at 31 December 2002:
	Group
	2002	2001
£million	£million	£million
Freehold property	88.4	92.7
Property on short leases	4.9	7.2
	93.3	99.9