FINANCIAL REPORT (cont.) Notes to the Financial Statements (cont.)
13. RETAINED EARNINGS
2023 $’000
2022 $’000 7,358 6,551
Balance at beginning of financial year Profit after tax for the year Dividends provided for or paid Balance at end of financial year 14. EARNINGS PER SHARE
10,965
9,491
(4,382) 16,074
(2,944) 10,965
2023 Cents per share
2022 Cents per share
Basic earnings/(losses) per share Diluted earnings/(losses) per share
8.84 8.71
6.24
6.07 The earnings and weighted average number of ordinary shares used in the calculation of basic earnings per share are as follows: 2023 $’000 2022 $’000 Net profit/(loss) 9,491 6,551 Earnings used in the calculation of basic and diluted EPS 9,491 6,551 2023 No.’000 2022 No.’000 Weighted average number of ordinary shares for the purposes of basic earnings per share 107,329 104,955 Diluted earnings per share
Weighted average numbers of ordinary shares and potential ordinary shares used in the calculation of diluted earnings per share reconciles to the weighted average number of ordinary shares used in the calculation of basic earnings per share as follows: Weighted average number of ordinary shares used in the calculation of basic EPS Shares deemed to be issued for no consideration in respect of employee options and performance rights 1 Weighted average number of ordinary shares and potential ordinary shares used in the calculation of diluted earnings per share
107,329
104,955
1,694
2,955
109,023
107,910
1 During the year ended 30 June 2023 a portion of the potential ordinary shares associated with the employee share option plan as set out in Note 12 are dilutive and therefore included in the weighted average number of ordinary shares for the purposes of diluted earnings per share. The potential ordinary shares associated with the Performance Rights are dilutive and have been included in the weighted average number of ordinary shares for the purposes of diluted earnings per share.
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