Cue Energy Resources Limited Notes to the financial statements 30 June 2023 32 Note 24. Reconciliation of profit after income tax to net cash from operating activities Consolidated 2023 2022 $'000 $'000 Profit after income tax expense for the year 15,211 16,068 Adjustments for: Share-based payments 96 188 Finance costs associated with abandonment provision 1,703 259 Exploration expenses 913 - Depreciation 94 82 Amortisation 6,005 5,415 Net gain on foreign currency conversion 879 520 Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables (3,918) 498 Increase in contract assets (3,282) (1,836) Decrease/(increase) in inventories 56 (468) Increase in deferred tax assets (5,362) (2,283) Increase/(decrease) in trade and other payables (721) 570 Decrease in contract liabilities (1,271) (810) (Decrease)/increase in tax liabilities 1,332 551 Increase/(decrease) in deferred tax liabilities 880 (1,052) Increase/(decrease) in provisions 38 (40) Net cash from operating activities 12,653 17,662 Note 25. Earnings per share Consolidated 2023 2022 $'000 $'000 Profit after income tax attributable to the owners of Cue Energy Resources Limited 15,211 16,068 Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 698,119,720 698,119,720 Weighted average number of ordinary shares used in calculating diluted earnings per share 698,119,720 698,119,720 Cents Cents Basic earnings per share 2.18 2.30 Diluted earnings per share 2.18 2.30 Accounting policy for earnings per share Basic earnings per share Basic earnings per share is calculated by dividing the earnings attributable to the owners of Cue Energy Resources Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares. 78 Cue Energy Resources Limited Annual Report 2023
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