Notes to the Group financial statements
for the year ended 30 June
R million | 2014 | 2013 | |
9. | EARNINGS PER SHARE | ||
Profit attributable to ordinary shareholders | 518 | 697 | |
Headline earnings adjustments | 30 | – | |
Net profit on disposal of property, plant and equipment | (9) | – | |
Impairment of Maslow assets | 39 | – | |
Tax relief on the above items | (15) | – | |
Minorities’ interests in the above items | (3) | – | |
Headline earnings | 530 | 697 | |
Adjusted headline earnings adjustments | 192 | 12 | |
Pre-opening expenses | 36 | 37 | |
Settlement of BEE shareholder options | 16 | – | |
Pre-opening Maslow lease rentals | – | 24 | |
Employee benefits | – | (15) | |
Restructure costs | 165 | – | |
Insurance captive trust distribution | (25) | – | |
Other | 13 | 4 | |
Foreign exchange profits on intercompany loans | (13) | (38) | |
Tax relief on the above items |
(44) |
(1) |
|
Minorities’ interests in the above items | (18) | (2) | |
Reversal of Employee Share Trusts’ consolidation | 23 | 24 | |
Adjusted headline earnings | 683 | 730 | |
Number of shares for diluted EPS calculation (000’s) |
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Weighted average number of shares in issue | 93 301 | 92 589 | |
Adjustment for dilutive share awards | 417 | 521 | |
Diluted weighted average number of shares in issue | 93 718 | 93 110 | |
Number of shares for diluted adjusted HEPS calculation (000’s) |
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Weighted average number of shares in issue | 93 301 | 92 589 | |
Weighted deemed treasury shares | 1 294 | 1 085 | |
Weighted treasury shares held by Employee Share Trusts | 9 317 | 9 317 | |
Adjusted weighted average number of shares in issue | 103 912 | 102 991 | |
Adjustment for dilutive share awards | 417 | 521 | |
Diluted adjusted weighted average number of shares in issue | 104 329 | 103 512 | |
Earnings per share (cents) |
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Basic | 555 | 753 | |
Headline | 568 | 753 | |
Adjusted headline | 657 | 709 | |
Diluted earnings per share (cents) |
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Basic | 553 | 749 | |
Headline | 566 | 749 | |
Adjusted headline | 655 | 705 | |
Earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares in issue. |