93
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
9.
INCOME TAX
(CONTINUED)
A reconciliation between tax expense and the product of accounting profit multiplied by the applicable
corporate tax rate for the financial years ended 30 June 2015 and 2014 is as follows:
Group
2015
2014
$’000
$’000
Profit before income tax
33,268
31,854
Tax at the domestic rates applicable to profits in the
countries where the Group operates
5,435
5,343
Adjustments:
Deferred tax assets not recognised
924
450
Expenses not deductible for tax purposes
1,320
56
Income not subject to tax
(5,937)
(4,273)
Benefits from previously unrecognised tax losses
–
(6)
Effect of partial tax exemption
(52)
(52)
Effect of tax incentive *
(741)
(308)
Under/(over) provision in respect of previous years
130
(128)
Share of results of associate
74
400
Others
(10)
(8)
1,143
1,474
*
The Productivity and Innovation Credit was introduced in the Singapore Budget 2010 and was enhanced in Budget 2012 to
provide tax benefits for investments by businesses in a broad range of activities along the innovation value chain. Under the
scheme, all businesses can enjoy additional allowances at 400% on up to $400,000 of their expenditure each qualifying year on
qualifying activities, subject to the agreement by the Inland Revenue Authority of Singapore.
10.
EARNINGS PER SHARE
Basic earnings per share are calculated by dividing profit attributable to owners of the Company by the
weighted average number of ordinary shares outstanding during the financial year.
Diluted earnings per share amounts are calculated by dividing profit attributable to owners of the Company
by the weighted average number of ordinary shares outstanding during the financial year plus the weighted
average number of ordinary shares that would be issued on the vesting of all existing share awards of the
Company into ordinary shares.
The following reflects the profit and share data used in the computation of basic and diluted earnings per
share for the years ended 30 June:
Group
2015
2014
$’000
$’000
Profit for the financial year attributable to owners of the Company
32,460
30,521
’000
’000
Weighted average number of ordinary shares for
basic earnings per share computation
260,043
256,520
Weighted average number of ordinary shares for
diluted earnings per share computation
260,343
256,585
