Cathay Pacific 2005 Annual Report Download - page 59

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57
Cathay Pacific Airways Limited Annual Report 2005
4. Taxation (continued)
A reconciliation between tax charge and accounting profit at applicable tax rates is as follows:
2005 2004
HK$M HK$M
Consolidated profit before tax 3,968 4,962
Notional tax calculated at Hong Kong profits tax rate of 17.5% (2004: 17.5%) (694) (868)
Expenses not deductible for tax purposes (184) (168)
Tax provisions over/(under) provided in prior years 72 (24)
Effect of different tax rates in overseas jurisdictions 294 432
(Unused tax losses not recognised)/tax losses recognised (97) 63
Income not subject to tax 109 119
Tax charge (500) (446)
Further information on deferred tax is shown in note 15 to the accounts.
5. Profit attributable to shareholders
Of the profit attributable to Cathay Pacific shareholders, a profit of HK$2,371 million (2004: HK$3,781 million) has
been dealt with in the accounts of the Company.
6. Dividends
2005 2004
HK$M HK$M
2005 interim dividend paid on 3rd October 2005 of HK¢20 per share
(2004: HK¢20 per share) 676 674
2005 final dividend proposed on 8th March 2006 of HK¢28 per share
(2004: HK¢45 per share) 947 1,520
1,623 2,194
7. Earnings per share
Basic earnings per share and diluted earnings per share are calculated by dividing the profit attributable to Cathay
Pacific shareholders of HK$3,298 million (2004: HK$4,417 million) by the daily weighted average number of shares in
issue throughout the year of 3,377 million (2004: 3,362 million) shares and 3,386 million (2004: 3,379 million) shares
respectively with the latter adjusted for the effects of the share options.
2005 2004
Million Million
Weighted average number of ordinary shares used in calculating
basic earnings per share 3,377 3,362
Deemed issue of ordinary shares for no consideration 9 17
Weighted average number of ordinary shares used in calculating
diluted earnings per share 3,386 3,379
Notes to the Accounts Profit and Loss Account