Statement of comprehensive income For the year ended 30 June 2012 IOOF  | Annual Report 2012 Notes to the financial statements are included on pages 61 to 121. *   A subsidiary of the Company, IOOF Ltd, is a friendly society in accordance with the Life Insurance Act 1995. The funds operated by IOOF Ltd, and any trusts controlled  by those funds, are treated as statutory funds in accordance with the Life Insurance Act 1995. These statutory funds are required to be consolidated in accordance  with accounting standards and are shown separately from shareholder funds in the financial statements.  page 55 Consolidated Parent 2012 2011 2012 2011 Note $’000 $’000 $’000 $’000 Revenue 7 624,764  642,649  89,634  132,422  Expenses 8 (522,995) (512,774) (1,432) (671) Life statutory revenue* 40(d) 52,528  85,260  - - Life statutory expenses* 40(e) (55,832) (71,649) - - Share of profits of associates accounted for using  the equity method (net of income tax) 8,181  9,201  - - Finance costs 9 (2,586) (761) (2,744) (467) Profit before income tax expense 104,060  151,926  85,458  131,284  Income tax (expense)/benefit - shareholder 10 (87,665) (37, 525) 7,9 87 44  Income tax (expense)/benefit - statutory* 3,304  (13,622) - - Profit for the period 19,699  100,779  93,445  131,328  Other comprehensive income Net change in fair value of available-for-sale  financial assets 26 (65) 5,398  - - Net change in fair value of share buy back liability 26 5,063  (10,112) - - Income tax on other comprehensive income 10 3,509  (1,866) - - Other comprehensive income/(expense) for the  period, net of income tax 8,507  (6,580) - - Total comprehensive income for the period 28,206  94,199  93,445  131,328  Profit attributable to: Owners of the Company 19,373  99,489  93,445  131,328  Policyholders of the IOOF Life Ltd Statutory Fund - (11) - - Non-controlling interest 326  1,301  - - Profit for the period 19,699  100,779  93,445  131,328  Total comprehensive income attributable to: Owners of the Company 27, 8 8 0 92,909  93,445  131,328  Policyholders of the IOOF Life Ltd Statutory Fund - (11) - - Non-controlling interest 326  1,301  - - Total comprehensive income for the period 28,206  94,199  93,445  131,328  Earnings per share:  Basic earnings per share (cents per share) 29 8.4  43.1  Diluted earnings per share (cents per share) 29 8.3  42.9 