ClearView Annual report 2024

Notes to the Financial Statements

The financial information reflecting the discontinued operations is as follows:

Consolidated

2024 $'000

2023

$'000

a) Results of discontinued operations Revenue

194,582 (207,551) (12,969) (4,408) (17,377) (2,072)

225,619 (221,711) 3,908 (7,748) (3,840)

Expenses

(Loss)/profit before income tax Income tax (expense)/benefit

Loss for the period from discontinued operations

Loss on sale of discontinued operations after income tax (see c) below) (Loss)/profit from discontinued operations attributable to equity holders of the parent

(19,449)

(3,840)

Earnings per share from discontinued operations Basic (cent per share)

(3.03) (3.03)

(0.60) (0.60)

Diluted (cent per share)

b) Cash flows from discontinued operations Net cash (utilised)/generated by operating activities

(25,751) 150,800 (129,830)

22,107

Net cash generated by investing activities Net cash utilised by financing activities

140,301

(159,394)

(4,781)

3,014

Net cash flows for the period from discontinued operations

c) Details of sale of discontinued operations Consideration received: Cash

4,850 4,850 (5,173)

— — — — — — — —

Total disposal consideration

Carrying amount of net assets sold

173

Net asset adjustments 1

(1,922) (2,072)

Transaction costs 2

Loss on sale before income tax

Income tax benefit

(2,072)

Loss on sale after income tax

1 Net asset adjustments, which relate to the actual net asset of CFML exceeding $5m at the date of sale, are expected to be finalised in 1H FY25. 2 Costs associated with the sale of CFML.

167

ClearView Wealth Limited

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