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56 VTech Holdings Ltd Annual Report 2013
Notes to the Financial Statements
6 Earnings Per Share
The calculations of basic and diluted earnings per share are based
on the Group’s profit attributable to shareholders of the Company
of US$202.3 million (2012: US$191.9 million).
The calculation of basic earnings per share is based on the
weighted average of 250.1 million (2012: 249.1 million) ordinary
shares in issue during the year after adjusting for shares held for
Share Purchase Scheme.
The calculation of diluted earnings per share is based on
250.3 million (2012: 249.4 million) ordinary shares which is the
weighted average number of ordinary shares in issue during the
year after adjusting for shares held for Share Purchase Scheme and
the number of dilutive potential ordinary shares under the
Company’s share option scheme.
2013 2012
Profit attributable to shareholders
(US$ million) 202.3 191.9
Weighted average number of ordinary
shares in issue less shares held for
Share Purchase Scheme (in million) 250.1 249.1
Effect of deemed issue of shares
under the Company’s share option
scheme for nil consideration
(in million) 0.2 0.3
Weighted average number of ordinary
shares (diluted) (in million) 250.3 249.4
Diluted earnings per share (US cents) 80.8 76.9
7 Tangible Assets
Land and
buildings Leasehold
improvements
Moulds,
machinery
and
equipment
Computers,
motor
vehicles,
furniture
and fixtures Construction
in progress Total
US$ million US$ million US$ million US$ million US$ million US$ million
Cost or valuation
At 1 April 2011 63.7 12.2 263.0 111.2 6.9 457.0
Additions – 0.5 19.2 10.0 – 29.7
Disposals – – (4.6) (2.3) – (6.9)
Revaluation (note (i)) 7.2 – – – – 7.2
Effect of changes in exchange rates (0.3) 0.3 0.4 0.5 – 0.9
At 31 March 2012 and 1 April 2012 70.6 13.0 278.0 119.4 6.9 487.9
Additions – 0.3 19.6 10.0 – 29.9
Disposals (0.4) (0.4) (19.2) (10.2) – (30.2)
Revaluation (note (i)) (2.5) – – – – (2.5)
Effect of changes in exchange rates (0.2) 0.1 0.2 0.2 – 0.3
At 31 March 2013 67.5 13.0 278.6 119.4 6.9 485.4
Accumulated depreciation
and impairment
At 1 April 2011 28.7 6.7 240.8 95.5 6.9 378.6
Charge for the year 1.8 0.9 16.0 8.7 – 27.4
Written back on disposals – – (4.6) (2.1) – (6.7)
Revaluation (note (i)) (3.8) – – – – (3.8)
Effect of changes in exchange rates 0.1 0.2 0.4 0.7 – 1.4
At 31 March 2012 and 1 April 2012 26.8 7.8 252.6 102.8 6.9 396.9
Charge for the year 2.0 1.0 17.5 8.7 – 29.2
Written back on disposals (0.4) (0.4) (19.2) (9.3) – (29.3)
Revaluation (note (i)) (0.2) – – – – (0.2)
Effect of changes in exchange rates 0.1 0.1 0.1 0.1 – 0.4
At 31 March 2013 28.3 8.5 251.0 102.3 6.9 397.0
Net book value at 31 March 2013 39.2 4.5 27.6 17.1 – 88.4
Net book value at 31 March 2012 43.8 5.2 25.4 16.6 – 91.0
Cost or valuation of tangible assets
is analysed as follows:
At cost 42.3 13.0 278.6 119.4 6.9 460.2
At professional valuation (note (i)) 25.2 – – – – 25.2
67.5 13.0 278.6 119.4 6.9 485.4