Operating leasesLease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on astraight-line basis.ImpairmentA review for indicators of impairment is carried out at each reporting date, with the recoverable amountbeing estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal ateach reporting date.StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell.Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.Financial instrumentsA financial asset or a financial liability is recognised only when the company becomes a party to thecontractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangementconstitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which therelated service is provided. Prepaid contributions are recognised as an asset to the extent that theprepayment will lead to a reduction in future payments or a cash refund.When contributions are not expected to be settled wholly within 12 months of the end of the reportingdate in which the employees render the related service, the liability is measured on a discountedpresent value basis. The unwinding of the discount is recognised in finance costs in profit or loss in theperiod in which it arises.