AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

5

INCOME TAX (CONTINUED)

b) Deferred income tax Deferred Tax Assets and Liabilities are netted where arising within the same tax payer and to the same tax authority and expected to unwind in the same period. i) Movement in deferred income tax during the year relates to the following: Assets Liabilities

2023 $’000

2022 $’000

2023 $’000

2022 $’000

Unamortised broking registers (and other intangibles)

– – – –

– – – –

(132,791)

(16,793) (7,595)

Non assessable income Foreign currency hedge Defined benefit pensions

(5,912) (4,332) (1,611)

Accrued expenses and provisions PPE & ROU tax timing differences

30,092

15,357

– – – – –

– – – – –

5,578 4,068

3,947

Borrowing costs

340 123

Carry forward capital losses Carry forward operating losses

–

9,737

1,505

Other

–

592

(1,761)

(385)

Netting of deferred taxes (arising within same tax consolidated group or entity)

(28,090)

(7,170)

28,090

7,170

Deferred tax assets/(liabilities)

21,385

14,694

(118,317)

(17,603)

ii) Unrecognised deferred tax assets Deferred tax assets for tax losses incurred are recognised to the extent that the Group expects the carry forward losses to be utilised in the future. Deferred tax assets arising from unused tax losses not recognised at 30 June 2023 was $2.0m (2022: $1.24m). Deferred tax assets arising from unused capital losses not recognised at 30 June 2023 was $1.1m (2022: $nil).

6 EARNINGS PER SHARE (EPS)/DIVIDENDS PAID AND PROPOSED

Basic earnings per share is calculated as net profit attributable to members of the parent, adjusted to exclude any costs of servicing equity (other than dividends), divided by the weighted average number of ordinary shares. Diluted earnings per share is calculated as net profit attributable to members of the parent, adjusted for: – the after tax effect of dividends and interest associated with dilutive potential ordinary shares that have been recognised as expenses; – other non-discretionary changes in revenues or expenses during the period that would result from the dilution of potential ordinary shares; and – divided by the weighted average number of ordinary shares and dilutive potential ordinary shares, adjusted for any bonus element.

a) Earnings Per Share (EPS) The following reflects the income and share data used in the basic and diluted earnings per share computations:

2023 $’000

2022 $’000

Net profit attributable to ordinary equity holders of the parent

65,253

80,836

2023 Thousands Shares

2022 Thousands Shares

Weighted average number of ordinary shares for basic earnings per share

99,837

76,546

Effect of dilution: Share Options

430

269

Weighted average number of ordinary shares adjusted for the effect of dilution

100,267

76,815

Basic earnings per share (cents per share) Diluted earnings per share (cents per share)

65.35 65.08

105.60 105.23

AUB GROUP ANNUAL REPORT 2023

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