Pick n Pay Holdings Limited and its subsidiaries
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    GROUP  
    2009       2008    
    Cents       Cents    
    per share       per share    
          Restated*    
3. BASIC, HEADLINE AND DILUTED EARNINGS/(LOSSES) PER SHARE          
  Basic (note 3.1) 111.11       101.18    
  Continuing operations 123.66       104.57    
  Discontinued operation (12.55)      (3.39)   
  Headline (note 3.1) 104.09       97.54    
  Continuing operations 116.23       100.94    
  Discontinued operation (12.14)      (3.40)   
  Diluted basic (note 3.2) 108.78       96.58    
  Continuing operations 121.20       99.92    
  Discontinued operation (12.42)      (3.34)   
  Diluted headline (note 3.2) 101.91       93.11    
  Continuing operations 113.92       96.46    
  Discontinued operation (12.01)      (3.35)   
  * Please refer to note 31 of Pick n Pay Stores Limited financial statements for details of the restatement of prior year figures.
 
    GROUP  
    2009       2008  
    Rm       Rm  
          Restated*  
3.1 Basic and headline earnings per share          
  The calculation of basic earnings (profit for the year) per share and headline          
  earnings per share is based on:          
  Basic earnings (profit for the year) 571.9       518.7  
  Headline earnings 535.8       500.1  
  and: Number of  
shares  
000’s  		     Number of  
shares 
000’s  		  
  The weighted average number of ordinary shares in issue during the year 514 732.0       512 644.5    
    Rm       Rm    
  Reconciliation between basic and headline earnings:
Basic earnings (profit for the year)		 571.9       518.7    
  Adjustments: (36.1)      (18.6)   
  Loss on sale of equipment and vehicles 7.5       2.4    
  Loss on sale of equipment and vehicles – discontinued operation 2.1       —    
  Profit on sale of property (37.5)      —    
  Profit on sale of stores (8.2)      (26.1)   
  Impairment of investment in associate —       5.1    
  Headline earnings 535.8       500.1    
    Number of  
shares  
000’s  		     Number of  
shares  
000’s  		  
  Movement in the weighted average number of ordinary shares in issue comprises:          
  At 1 March 512 644.5       508 670.3    
  Net sale of treasury shares by the share trust, pursuant to the take-up of share options 2 087.5       3 974.2    
  At 28 February 514 732.0       512 644.5    
 
    GROUP  
    2009       2008  
    Rm       Rm  
          Restated*  
3.2 Diluted basic and headline earnings per share          
  The calculation of diluted basic earnings per share and diluted headline earnings per share is based on:          
  Diluted basic earnings 566.1       501.6  
  Diluted headline earnings 530.3       483.6  
  and: Number of  
shares  
000’s  		     Number of
shares
000’s		  
  The diluted weighted average number of ordinary shares in issue during the year 520 391.5       519 331.9  
  * Please refer to note 31 of Pick n Pay Stores Limited financial statements for details of the restatement of prior year figures.
 
    GROUP  
    2009       2008   
    Rm       Rm   
          Restated*   
  Reconciliation between basic and diluted basic earnings:          
  Basic earnings (profit for the year) 571.9       518.7   
  Debenture interest after tax —       0.5   
  Pick n Pay Stores Limited’s dilution effect (5.8)      (17.6)  
  Diluted basic earnings 566.1       501.6   
  Headline earnings adjustments (note 3.1) (36.1)      (18.6)  
  Pick n Pay Stores Limited’s dilution effect 0.3       0.6   
  Diluted headline earnings 530.3       483.6   
    Number of  
shares  
000’s  		     Number of 
shares 
000’s 		  
  Reconciliation of the weighted average number of ordinary shares in issue for diluted earnings per share:          
  Weighted average number of ordinary shares in issue (note 3.1) 514 732.0      512 644.5   
  Outstanding options 5 659.5       6 687.4   
  Weighted average number of ordinary shares in issue for purposes of calculating diluted earnings per share 520 391.5       519 331.9   
  Refer to note 6 for the number of shares in issue.