Full Version Guinness Anchor Berhad Annual Report 2007 - Gab

Notes to the Financial Statementsfor the year ended 30 June 200714. Tax expense (cont’d)GroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Reconciliation of tax expenseProfit for the year 112,561 128,197 46,378 137,001Total tax expense 39,598 14,014 14,008 14,614Profit excluding tax 152,159 142,211 60,386 151,615Tax calculated using Malaysian tax rates of 27% (2006: 28%) 41,083 39,819 16,304 42,452Non-deductible expenses 998 968 174 387Tax incentives (473) (3,211) (473) (3,211)Overprovision in prior years (2,010) (23,562) (1,997) (25,014)Tax expense 39,598 14,014 14,008 14,61415. Earnings per ordinary shareGroupBasic earnings per ordinary shareThe calculation of basic earnings per ordinary share at 30 June 2007 was based on the profit attributable to ordinary shareholders of RM112,561,000(2006 - RM128,197,000) and a weighted average number of ordinary shares outstanding during the year of 302,098,000 (2006 - 302,098,000).Weighted average number of ordinary shares2007 2006’000 ’000Issued ordinary shares at beginning of the year 302,098 302,098Basic earnings per ordinary share (sen) 37.3 42.4Diluted earnings per shareThere were no diluted earnings per share for the Group as at 30 June 2007.Annual Report 2007117Guinness Anchor Berhad (Company No. 5350-X)