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216
CONSOLIDATED FINANCIAL STATEMENTS
Since there are no potential voting rights, the basic earnings per share is equal to earnings diluted
per share.
28. FINANCIAL ASSETS AND LIABILITIES
At the end of the year, financial assets and liabilities were broken down as follows:
Dec/11
Dec/10
Profit payable to shareholders
6,125,138
14,563,886
Mean weighted number of ordinary shares issued
20,000,000
20,000,000
Mean weighted number of own shares
-2,000,000
-2,000,000
18,000,000
18,003,321
Basic earnings per share (
€
per share)
0,34
0,81
Earnings diluted per share (
€
per share)
0,34
0,81
Number of own shares at the end of the year
2,000,000
2,000,000
The mean weighted income tax rate was of 29% (2010: 24%).
27. INCOME PER SHARE
Income per share in the year ending on 31 December 2011 and 2010 was calculated as follows:
2011
2010
Pre-tax profit
9,190,537 19,807,123
Tax calculated at the appliacble tax rate in Portugal (26,5%)
2,435,492 5,248,888
Fiscal effect caused by:
Tax rate difference on the islands and archipelagos
-46,504
-23,171
Tax rate difference in other countries
38,647
107,683
Deferred taxes not recognised due to prudence
-101,219
-138,273
Insufficient/(excess) estimate in the previous year
-2,580
4,125
Correction deferred tax
261,227
-
After of taxable income due to fiscal adj. consol. and other effects
55,836
-392,181
Income Tax Expenses
2,640,900 4,807,070