Contents

NOTES TO THE FINANCIAL STATEMENTS

40. OPERATING LEASE COMMITMENTS

Group

Company

2010
£m

2009
£m

2010
£m

2009
£m

The future aggregate minimum lease payments under non-cancellable

operating leases are:

Within one year

7.4

7.2

-

-

Later than one year and less than five years

23.8

19.1

-

-

After five years

89.1

81.2

-

-

120.3

107.5

-

-

The Group leases various offices, depots and workshops under non-cancellable operating lease agreements. The leases have various terms, escalation clauses and renewal rights. Property leases are negotiated for an average term of 25 years and rentals are reviewed on average at five yearly intervals.

The Group also leases plant and machinery under non-cancellable operating lease agreements.