Notes to the Financial Statements - Swissco Holdings Limited

Notes
to the Financial Statements
For the financial year ended 31 December 2009
8. Income taxes (continued)
(c)
Deferred income taxes
Movement in deferred income tax liabilities is as follows:
Group
2009 2008
$ $
Beginning of financial year 101,530 101,530
Charged to profit or loss 713,507 –
Under provision in prior financial year 272,143 –
End of financial year 1,087,180 101,530
Represented by:
Accelerated tax depreciation 1,087,180 101,530
Deferred tax liabilities are expected to be settled after one year.
9. Earnings per share
(a)
Basic earnings per share
Basic earnings per share is calculated by dividing the net profit attributable to equity holders of the
Company by the weighted average number of ordinary shares outstanding during the financial year.
Group
2009 2008
Net profit attributable to equity holders of the Company ($) 24,176,705 23,590,644
Weighted average number of ordinary shares outstanding for
basic earnings per share 197,208,717 196,942,904
Basic earnings per share (cents per share) 12.26 11.98
(b)
Diluted earnings per share
For the purpose of calculating diluted earnings per share, profit attributable to equity holders of the
Company and the weighted average number of ordinary shares outstanding are adjusted for the
effects of all dilutive potential ordinary shares. The dilutive potential ordinary shares of the Company
are share options.
For share options, the weighted average number of shares on issue has been adjusted as if all
dilutive share options were exercised. The number of shares that could have been issued upon the
exercise of all dilutive share options less the number of shares that could have been issued at fair
value (determined as the Company’s average share price for the financial year) for the same total
proceeds is added to the denominator as the number of shares issued for no consideration. No
adjustment is made to the net profit.
Swissco International Limited Annual Report 2009
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