Annual Report 10/11 - ACL Cables PLC

ACL Cables PLC Annual Report 2010/11Notes to the Financial Statements8. Income tax (Contd.) arise using the effective tax rate applicable to profits of the Company and Group as follows:GroupYear ended 31 MarchCompanyYear ended 31 March2011 2010 2011 2010Profit/ (loss) before tax 449,700,121 196,285,015 33,894,003 (146,853,263)Tax calculated at effective tax rate of 35.525% 159,755,968 69,730,252 12,040,845 (52,169,622)Tax effect of income liable atconcessionary rate (12,137,339) (6,777,645) (2,156,984) -Tax effect of income not subject to tax (69,836,597) (29,269,544) (16,589,290) (15,770,715)Tax effect of expenses not deductible 76,195,039 54,268,779 44,326,666 7,962,169Utilisation of previously unrecognized tax losses (11,822,153) 24,995,491 (12,299,141) 22,997,530Adjustments in respect of prior years 4,194,832 (359,961) - -WHT on dividends paid by subsidiaries 3,796,234 4,835,535 - -Tax effect of adjustments on consolidation 12,813,924 23,780,202 - -Tax charge 162,959,908 141,203,109 25,322,096 (36,980,638)9. Earning/ (loss) per shareBasic earnings per share is calculated by dividing the net profit/ (loss) attributable to shareholders by the weightedaverage number of ordinary shares in issue during the year.GroupYear ended 31 MarchCompanyYear ended 31 March2011 2010 2011 2010Net profit/ (loss) attributableto shareholders 232,546,843 (4,788,617) 8,571,907 (109,872,625)Weighted average number of ordinaryshares in issue 59,893,680 59,893,680 59,893,680 59,893,680Basic earning/ (loss) per share 3.88 (0.08) 0.14 (1.83)10. Dividend per shareDividend paid - - - -Weighted average number of ordinaryshares in issue 59,893,680 59,893,680 59,893,680 59,893,680Dividend per share - - - -60