5.
Taxation
(a) Taxation in the profit and loss account represents:-
The group
The company
1987
1986
1987
$000's
$000's
$000's
1986
$000's
Estimated liability to Hong Kong
profits tax at 18% (1986: 181⁄2%)
on the assessable profits of the year
20,712
10,015
20,500
9,800
Overprovision in respect of
previous year
(253)
(509)
(252)
(508)
20,459
9,506
20,248
9,292
(b) The liability to taxation represents:-
The group
The company
1987
1986
1987
1986
$000's
$000's
$000's
$000's
Estimated liability to profits
tax for the year
20,712
10,015
20,500
9,800
Balance of profits tax provision
relating to previous years
2,337
5,894
2.337
5,894
23,049
15,909
22,837
15,694
Taxation recoverable in respect
of previous year
(11)
(3)
23,038
15,906
22,837
15,694
Less: Tax Reserve Certificate
purchased under order
of the Commissioner
of Inland Revenue
(1,618)
(1,618)
21,420
15,906
21,219
15,694
6.
Dividends
Group and company
1987
1986
$000's
$000's
First interim dividend of
20 cents per share paid (1986: 18 cents)
9,254
8,329
Special dividend of
5 cents per share paid (1986: 5 cents)
2,313
2,313
Second interim dividend of
18 cents per share declared (1986: 18 cents)
8,329
8,329
Proposed final dividend of
32 cents per share (1986: 30 cents)
14,806
13,880
34,702
32,851
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