8. INCOME TAX (CONTINUED) At 31 December 2024, all of the available losses were utilised or recognised on the balance sheet, relating to the historical and future Trofinetide royalty and milestone payments. As a result, $17.0m was recorded as credits to the income tax expense in the current financial year: – $23.7 million of New Zealand gross tax losses were utilised during the current financial year in relation to the 31 December 2023 and 31 December 2024 tax years. – $37.2 million of New Zealand gross tax losses carried forward, for which a Deferred Tax Asset (DTA) of $10.4 million is recognised on the balance sheet. There are no New Zealand imputation credits available for use as at 31 December 2024 (2023: nil). Australian Franking credits As at 31 Dec 2024 $’000 As at 31 Dec 2023 $’000 Franking credits available at the reporting date based on a tax rate of 30% 28,021 (8,962) Franking credits that will arise from the payment of the amount of the provision for income tax at the reporting date based on a tax rate of 30% 42,752 37,119 Franking credits available for subsequent financial years based on a tax rate of 30% 70,773 28,157 9. EARNINGS PER SHARE Basic earnings per share is calculated by dividing the profit for the period attributable to the equity holders of the company by the weighted average number of ordinary shares on issue during the period excluding shares held as treasury stock. Diluted earnings per share is calculated by dividing the profit attributable to ordinary equity holders of the company by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares. Year ended Dec 2024 $’000 Year ended Dec 2023 $’000 Profit after income tax attributable to the owners of Neuren Pharmaceuticals Limited 142,043 157,081 Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 127,769,432 127,069,512 Adjustments for calculation of diluted earnings per share: Options over ordinary shares 3,010,190 3,698,975 Weighted average number of ordinary shares used in calculating diluted earnings per share 130,779,622 130,768,487 Cents Cents Basic earnings per share 111.17 123.62 Diluted earnings per share 108.61 120.12 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2024 37
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