106 107
7.
Income taxes (continued)
(d)
Dividend distribution tax on undistributed earnings
At the reporting date, the Group had potential dividend distribution tax liability amounting to $19,300,000 (2014:
$16,000,000) associated with undistributed earnings of subsidiaries. No deferred tax liabilities have been recognised
in respect of these differences because the Group is in a position to control the dividend policies of these subsidiaries
and provision is made only when there is a plan for dividend distribution.
8.
Earnings per unit
The calculation of basic earnings per unit is based on:
Group
2015
2014
Total profit attributable to unitholders ($'000)
65,911
50,107
Weighted average number of units outstanding during the year ('000)
920,071 915,711
Earnings per unit (cents)
7.16
5.47
Diluted earnings per unit are the same as the basic earnings per unit as there are no dilutive instruments in issue during the
financial year.
9.
Distribution to unitholders
Group and Trust
2015
2014
$'000
$'000
Distribution paid:
Exempt distribution of 2.15 cents per unit paid on 28 May 2013
–
19,638
Exempt distribution of 2.24 cents per unit paid on 28 November 2013
–
20,530
Exempt distribution of 2.32 cents per unit paid on 27 May 2014
21,293
–
Exempt distribution of 2.40 cents per unit paid on 10 December 2014
22,100
–
43,393
40,168
A tax-exempt distribution of 2.46 cents per unit amounting to $22,683,000 was approved on 29 April 2015 by the Board of
Directors of the Trustee-Manager. These financial statements do not reflect this distribution, which will be accounted for in
Unitholders’ funds as an appropriation of retained earnings in the financial year ending 31 March 2016.
