182 / 280
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
180
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
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
2013
R’000
Basic earnings (R’000)
450 230
424 841
Dilutive instrument (R’000)
(695)
—
Dilutive earnings (R’000)
449 535
424 841
Weighted average number of ordinary shares in issue (thousands)
663 298
661 578
Adjusted for forfeitable shares (thousands)
9 014
10 727
Weighted average number of ordinary shares for dilutive earnings
(thousands)
672 312
672 305
Dilutive basic earnings per share (cents per share)
66.86
63.19
Headline earnings (R’000)
450 889
424 506
Dilutive instrument (R’000)
(695)
—
Dilutive headline earnings (R’000)
450 194
424 506
Weighted average number of ordinary shares for dilutive headline
earnings (thousands)
672 312
672 305
Dilutive headline earnings per share (cents)
66.96
63.14
(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)
450 230
424 841
Amortisation on intangibles raised through business combinations net of
tax and non-controlling interest (R’000)
10 372
12 675
Core net profit for the period (R’000)
460 602
437 516
Weighted average number of ordinary shares in issue (thousands)
663 298
661 578
Core earnings per share (cents per share)
69.44
66.13