CMB_1993 — Page 20

Notes on The Accounts (Continued)

6. TAXATION

(a) Taxation in the profit and loss accounts represents:-

The group

The company

1993

1992

1993

1992

$000's

$000's

$000's

$000's

Estimated liability to Hong Kong profits tax at 17.5%

(1992: 17.5%) on the assessable profits of the year

22,449

20,011

22,400

19,469

Attributable to extraordinary items (note 7)

(281)

(74)

Attributable to deferred profits

(187)

(50)

22,449

19,543

22,400

19,345

(Over)/under provision in respect of previous year

(214)

172

(214)

172

22,235

19,715

22,186

19,517

(b) The liability to taxation represents:-

Estimated liability to profits tax for the year

Balance of profits tax provision relating to previous year

22,449

20,011

22,400

19,469

9,142

256

8,891

255

31,591

20,267

31,291

19,724

(c) No provision for deferred taxation is required as there are net deferred tax assets for both the company

components of the unprovided deferred tax are:-

and the

group.

The major

The group

The company

1993

1992

1993

1992

$000's

$000's

$000's

$000's

Depreciation allowances in excess of related depreciation

35,717

32,806

35,717

32,806

General provisions

(70,146)

(56,832) (70,146) (56,832)

Net deferred tax assets unprovided

(34,429)

(24,026)

(34,429)

(24,026)

7. EXTRAORDINARY ITEMS

Extraordinary items for the year ended 30th June, 1992 represented the surpluses attributable to the disposal of the leasehold land and buildings, less attributable tax.

8. DIVIDENDS

Group and company

1993

1992

$000's

$000's

First interim dividend of $0.21 per share paid (1992: $0.21) Special dividend of $0.50 per share paid (1992: $3.00)

9,716

9,716

23,134

138,805

Second interim dividend of $0.50 per share declared (1992: $0.28) Proposed final dividend of $0.70 per share (1992: $0.70)

23,134

12,955

32,388

32,388

88,372

193,864

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