164 / 220
/
162
Notes
to the Group annual financial statements
continued
For the year ended 31 May 2017
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
9.
Unrecognised items
9.1 Commitments
Future operating lease commitments
The Group leases various offices under non-cancellable operating lease agreements.
The lease terms are between one and five years, and the majority of lease agreements are renewable at the end of
the lease period at market rates.
The Group is required to give six months’ notice for the termination of the majority of these agreements.
The lease expenditure charged to the income statement during the year is disclosed in note 1.3.
The future aggregate minimum lease payments under non-cancellable operating leases are as follows:
2017
R’000
2016
R’000
Premises
Payable within one year
29 263
24 140
Payable in two to five years
101 742
18 666
Payable in greater than five years
55 197
—
186 202
42 806