162 / 248
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
160
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
22.
EARNINGS PER SHARE continued
(c)
Diluted – basic and headline
Diluted earnings per share are calculated by adjusting the number of ordinary shares outstanding to
assume conversion of all dilutive potential ordinary shares. The dilutive potential ordinary shares of the
Company are the forfeitable shares granted. For this calculation, an adjustment is made for the number
of shares that would be issued on vesting under the forfeitable share plan.
2014
R’000
Basic earnings (R’000)
577 617
450 230
Dilutive instrument (R’000)
(5 603)
(695)
Diluted earnings (R’000)
572 014
449 535
Weighted average number of ordinary shares in issue (thousands)
665 030
663 298
Adjusted for forfeitable shares (thousands)
7 672
9 014
Weighted average number of ordinary shares for diluted earnings
(thousands)
672 702
672 312
Diluted basic earnings per share (cents per share)
85.03
66.86
Headline earnings (R’000)
547 051
450 889
Dilutive instrument (R’000)
(5 603)
(695)
Diluted headline earnings (R’000)
541 448
450 194
Weighted average number of ordinary shares for diluted headline
earnings (thousands)
672 702
672 312
Diluted headline earnings per share (cents)
80.49
66.96
(d)
Core
Core earnings per share is calculated after adding back the
amortisation of intangible assets as a consequence of the
purchase price allocations completed in terms of IFRS 3(R) –
Business Combinations.
Reconciliation between net profit for the period and core net
profit for the period:
Net profit for the period (R’000)
577 617
450 230
Amortisation on intangibles raised through business combinations
net of tax and non-controlling interest (R’000)
18 961
10 372
Core net profit for the period (R’000)
596 578
460 602
Weighted average number of ordinary shares in issue (thousands)
665 030
663 298
Core earnings per share (cents per share)
89.71
69.44
2015
R’000