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.
Because every month they have a profit they transfer it to...
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Last
$1.39 |
Change
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Mkt cap ! $1.745B | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.41 | $1.39 | $1.267M | 908.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 156715 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.40 | 12000 | 2 |
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| Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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$1.39 |
Change
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| Open | High | Low | Volume | ||
| $1.39 | $1.41 | $1.39 | 317059 | ||
| Last updated 15.58pm 14/05/2024 ? | |||||
| WLE (ASX) Chart |