NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
127
CITIC ENVIROTECH LTD.
Annual
Report
2015
34 INCOME TAX EXPENSE (cont’d)
No deferred tax asset on the tax losses carryforwards has been recognised due to the
unpredictability of future profits streams of the loss-making entities.
The above deferred tax benefits unrecorded are subject to agreement with the Comptroller of
Income Tax and the tax authorities, as well as conditions imposed by law.
35 BASIC AND DILUTED EARNINGS PER SHARE
Group
April 1,
April 1,
2015 to 2014 to
December
31,
March
31,
2015
2015
$’000
$’000
Earnings ($’000)
Profit attributable to owners of the Company
40,762 59,268
Effect of dilutive potential ordinary shares:
Dividends on perpetual capital securities
(1,113)
–
Interest on convertible loans (net of tax)
–
6,808
Earnings for the purposes of diluted earnings per share
39,649 66,076
Number of shares (’000)
Weighted average number of ordinary shares for the purpose of basic
earnings per share
1,115,504 921,170
Effect of dilutive potential ordinary shares from share options and
convertible bonds
53,876 188,476
Weighted average number of ordinary shares for the purpose of diluted
earnings per share
1,169,380 1,109,646
Earnings per share (cents)
- Basic
3.55 6.43
- Diluted
3.39 5.95
