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NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
107
Annual Report 2013
F i nanc i a l Statement s
10. Earnings per share
(continued)
(b)
Diluted earnings per share
For the purpose of calculating diluted earnings per share, the weighted average number of ordinary shares
outstanding is adjusted for the effects of all dilutive potential ordinary shares arising from share options.
For share options, the weighted average number of shares on issue has been adjusted as if all dilutive
share options were exercised. The number of shares that could have been issued upon the exercise of
all dilutive share options less the number of shares that could have been issued at fair value (determined
as the Company’s average share price for the financial year) for the same total proceeds is added to the
denominator as the number of shares issued for no consideration. No adjustment is made to the net profit.
Diluted earnings per share attributable to equity holders of the Company is calculated as follows:
2013
2012
Net profit attributable to equity holders of the
Company ($’000)
30,615
105,685
Weighted average number of ordinary shares
outstanding for basic earnings per share (’000)
2,239,245
2,239,245
Weighted average number of ordinary shares
outstanding for diluted earnings per share (’000)
2,239,245
2,239,245
Diluted earnings per share (cents per share)
1.37
4.72
11. Cash and cash equivalents
Cash and cash equivalents at the end of the financial year comprise the following:
The Group
The Company
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Cash at bank and on hand
689,502
858,707
8,598
2,236
Short-term bank deposits
1,338,895
834,129
45,810
81,669
2,028,397
1,692,836
54,408
83,905
Cash at bank and short-term bank deposits include an amount of $726,520,000 (2012: $595,177,000) placed with
a fellow subsidiary, COSCO Finance Co., Ltd.
For the purpose of presenting the consolidated statement of cash flows, the consolidated cash and cash
equivalents comprise the following:
The Group
2013
2012
$’000
$’000
Cash and bank balances (as above)
2,028,397
1,692,836
Less: Bank deposits pledged
(3,357)
(17,564)
Cash and cash equivalents per consolidated statement of cash flows
2,025,040
1,675,272
In 2013, cash and bank balances and short-term bank deposits of the Group amounting to $3,357,000 (2012:
$17,564,000) are pledged as security for trade finance facilities.