Annual Report 2016

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13. Inventory

30 March 2016
25 March 2015
27 March 2014
Raw materials18,32922,00325,396
Work in progress-2316
Finished goods80,85674,00960,729
Maintenance spares - consumables5,1625,4465,537

The directors are of the opinion that the net realisable value of inventory is greater than the carrying amount. The inventory balances includes a provision of €8.63 million (2015: €9.9 million).

During the year there was a write down of peat stocks and maintenance spares of €0.9 million and €0.5m respectively.

In 2016, inventories of €190.5 million (2015: €187.1 million) were recognised as an expense and included in cost of sales.

Maintenance spares – consumables represent small items included in the operating cycle.