Notes to the Financial Statements
in the report, certain assumptions have been updated at 30 June 2024. Whilst the overall impact of these assumption changes is adverse, under AASB 17 certain timing issues arise whereby the impact on reinsurance profits is recognised faster than the reduction to profit on gross contracts. 5 The changes in AIACF impairment relate to non- cash impairment of acquisition cost asset and represents a timing difference in the release of profit and has no impact on underlying earnings over the life cycle of a policy. 6 These relate to the impairment of goodwill, intangible assets and costs to sell of the Wealth Management business. See section 8.5 for detail. 7 Costs associated with the sale of the Wealth Management business. 8 Costs associated with the restructure announced in June 2023 and the strategic review which concluded in November 2022. 9 These costs are considered unusual to the ordinary activities of the Group and are therefore not reflected as part of Underlying NPAT. Amounts stated are after tax. 10 The reclassification relates to income or expense items reported under the Wealth Management segment but not classified as discontinued operations.
2.2 Earnings per share
Consolidated 2024 2023 Restated
Earnings per share - continuing operations (cents) Basic earnings (cents)
1.09 1.09
1.99 1.99
Diluted earnings (cents)
Earnings per share - continuing operations (excluding share of net profit and gain on disposal of investment in associate) (cents) Basic earnings (cents)
0.65 0.65
1.88 1.88
Diluted earnings (cents) Earnings per share (cents) Basic earnings (cents) Diluted earnings (cents)
(1.94) (1.94)
1.39 1.39
Reconciliation of earnings used for earnings per share measures Profit for the year from continuing operations attributable to owners of the Company ($'000) Earnings used in the calculation of basic earnings per share - continuing operations ($'000) Profit for the year from continuing operations attributable to owners of the Company (excluding share of net profit and gain on disposal of investment in associate) ($'000) Earnings used in the calculation of basic earnings per share - continuing operations (excluding share of net profit and gain on disposal of investment in associate) ($'000)
7,000 12,724
7,000 12,724
4,167 12,058
4,167 12,058
Profit for the year attributable to owners of the Company ($'000) Earnings used in the calculation of basic earnings per share ($'000)
(12,449) (12,449)
8,884 8,884
Reconciliation of weighted average number of ordinary shares used for earnings per share measures Weighted average number of ordinary shares used in the calculation of basic earnings per share (000's) Shares deemed to be dilutive in respect of the employee rights plan (000's) Weighted average number of ordinary shares used in the calculation of diluted earnings per share (all measures) (000's)
641,474 640,122
429
68
641,903 640,190
97
ClearView Wealth Limited
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