1982 — Page 14

Notes on the Accounts cont'd

5.

Taxation

(a) Taxation in the profit and loss account represents:

Group

1982

1981

$'000

$'000

6.

Provision for Hong Kong profits tax at 16.5%

on the estimated assessable profits of the year

486

618

Overprovision in respect of previous year

324

57

162

.561

(b)

The liability to taxation represents:

Group

1982

1981

$'000

$'000

Estimated liability to profits tax for the year

486

618

Provisional profits tax paid

313

240

173

378

Balance of profits tax provision

relating to previous year

(1,158)

365

(985)

743

No provision for taxation is required in the accounts of the parent company as the estimated capital allowances exceed the estimated adjusted profits for the year.

Group profit after taxation

The Group profit after taxation includes an amount of $34,728,000 (1981 has been dealt with in the accounts of the Company.

$39,373,000) which

7.

Earnings Per Share

The calculation of earnings per share is based on earnings of $34,740,000 (1981 - $39,435,000) and on the weighted average of 135,474,212 shares (1981 - 113,876,446 shares! after adjustment for the second call of 1981 Rights Issue paid during the year and the weighting of the partly paid shares according to their dividend rights.

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