Page 43 - NZPM Annual Report 2017
P. 43
4. NET FINANCING COSTS
2017 2016
$’000 $’000
(a) Finance income
Interest income (48) (14)
(48) (14)
(b) Finance costs
Interest expense on borrowings, bank facility and line fees 595 770
Interest expense on finance lease liabilities 161 254
(Gain)/loss arising on interest rate swaps (267) 183
489 1,207
Net financing costs 441 1,193
5. REBATE DIVIDENDS AND DIVIDENDS PAID
2017 2016
$’000 $’000
Rebate dividends paid 1,254 1,830
Dividends paid 922 940
2,176 2,770
On 7 June 2016 the company declared a rebate dividend to all ordinary shareholders, of the greater of $300
or 2% of their Grade A cash, with the payment to be paid in October 2016. Payment was made on the 28
October 2016.
6. TAXATION
2017 2016
$’000 $’000
(a) Income tax recognised in profit or loss
Current tax expense/(credit):
Current year 1,775 620
Adjustment for prior periods 194 (29)
Deferred tax expense/(credit):
Current year 268 (570)
Total taxation expense recognised in profit or loss 2,237 21
(b) Reconciliation of effective tax rate
Profit/(loss) before taxation: 4,544 (2,244)
Income tax expense/(credit) at 28% (2016: 28%) 1,272 (628)
Non-deductible items 771 678
Understatement/(overstatement) of prior year's provision 194 (29)
Total taxation expense recognised in profit or loss 2,237 21
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