Because every month they have a profit they transfer it to reserves, regarless of whether they have made up losses from previous months. The profit reserve is just an accounting loophole.
See extract below from the WLE half year report Pg 9. They made a 6 month profit of $85m but transferred $119m to the reserve.
Ann: Share Purchase Plan for WAM Leaders shareholders, page-24
Add WLE (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.31 |
Change
0.010(0.77%) |
Mkt cap ! $1.641B | |||
| Open | High | Low | Value | Volume |
| $1.30 | $1.31 | $1.29 | $514.1K | 395.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 43589 | $1.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.31 | 14396 | 2 |
View Market Depth
| Last trade - 10.54am 04/07/2024 (20 minute delay) ? |
| WLE (ASX) Chart |