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A M A R Q U E A B O V E T H E R E S T 78 E U R O S P O R T S G L O B A L L I M I T E D 79
2 0 1 4 A N N U A L R E P O R T
31 March 2014 31 March 2014
NOTES TO THE NOTES TO THE
F INANCI AL STATEMENTS F INANCI AL STATEMENTS
10. Earnings Per Share
Basic earnings per share amount is calculated by dividing the profit attributable to ordinary equity holders
of the Company by the weighted average number of equity shares of no par value as follows:
Group
2014
$’000
2013
$’000
Net profit attributable to ordinary equity holders of the Company 17,020 6,719
’000 ’000
Weighted average number of equity shares 233,110 225,000
The weighted average number of equity shares refers to shares in circulation during the reporting period.
The basic earnings per share ratio is based on the weighted average number of ordinary shares outstanding
during each reporting year. Diluted earnings per share is similar to basic earnings per share as there were
no potential dilutive ordinary shares existing during the relevant period.
11. Dividends on Equity Shares
Group
2014
$’000
2013
$’000
*OUFSJN UBY FYFNQU POF UJFS EJWJEFOE QBJE PG QFS TIBSF – 2,500
In 2013, a subsidiary, EuroSports Auto Pte Ltd declared and paid interim tax-exempt (one-tier) dividends of
QFS TIBSF UP JUT TIBSFIPMEFST QSJPS UP UIF 3FTUSVDUVSJOH &YFSDJTF /PUF
In respect of the current reporting year, the Directors propose that a first and final dividend of 2.8 cents per
TIBSF XJUI B UPUBM PG CF QBJE UP TIBSFIPMEFST BGUFS UIF BOOVBM HFOFSBM NFFUJOH UP CF IFME PO
July 2014. There are no income tax consequences. This dividend is subject to approval by shareholders at
the next annual general meeting and has not been included as a liability in these financial statements. The
proposed dividend is payable in respect of all ordinary shares in issue at the end of the reporting year and
including any new qualifying shares issued up to the date the dividend becomes payable.
9. Income Tax (Cont’d)
9B. Deferred tax expense recognised in profit or loss include:
Group
2014
$’000
2013
$’000
Excess of tax over book depreciation on property, plant
and equipment (2) (20)
Tax losses carryforwards 168 111
Unrecognised deferred tax assets (reversed) (166) (91)
Total deferred tax expense recognised in profit or loss – –
9C. Deferred tax balance in the statements of financial position:
Group
2014
$’000
2013
$’000
Deferred tax assets recognised in profit or loss:
Excess of tax over book depreciation on property, plant
and equipment 44 42
Tax losses carryforwards 284 452
Unrecognised deferred tax assets (328) (494)
Net – –
No deferred tax asset (on deductible temporary differences and unused tax losses) has been
recognised in respect of the above balance.
The realisation of the future income tax benefits from tax loss carryforwards of approximately
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BSF BWBJMBCMF GPS BO VOMJNJUFE GVUVSF QFSJPE TVCKFDU UP UIF DPOEJUJPOT
imposed by law including the retention of majority shareholders as defined.