Pick n Pay Stores Limited and its subsidiaries
Print this page   E-mail this page   Decrease font size   Increase font size
Close window  x
 
     
 
    GROUP
         
    2009  
Cents  
per share  		     2008  
Cents  
per share  
Restated*
6. BASIC, HEADLINE AND DILUTED EARNINGS/(LOSSES) PER SHARE      
  Basic (note 6.1) 222.23       205.43  
  Continuing operations 247.35       212.31  
  Discontinued operation (25.12)      (6.88) 
  Headline (note 6.1) 208.19       198.06  
  Continuing operations 232.48       204.94  
  Discontinued operation (24.29)      (6.88) 
  Diluted basic (note 6.2) 220.45       195.75  
  Continuing operations 245.37       202.30  
  Discontinued operation (24.92)      (6.55) 
  Diluted headline (note 6.2) 206.53       188.73  
  Continuing operations 230.62       195.28  
  Discontinued operation (24.09)      (6.55) 
6.1 Basic and headline earnings per share Rm       Rm  
  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) 1 048.3       933.4  
  Headline earnings 982.1       899.9  
  and: Number of 
shares  
 000’s  		     Number of  
shares  
000’s  
  The weighted average number of ordinary shares in issue during the year 471 728.2       454 369.2  
  Reconciliation between basic and headline earnings: Rm       Rm  
  Basic earnings (profit for the year) 1 048.3       933.4  
  Adjustments (net of tax): (66.2)      (33.5) 
  Loss on sale of equipment and vehicles 13.7       4.4  
  Loss on sale of equipment and vehicles – discontinued operation 3.9       —   
  Profit on sale of property (68.7)      —   
  Profit on sale of stores (15.1)      (47.0) 
  Impairment of investment in associate —       9.1  
  Headline earnings 982.1       899.9  
    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 454 369.2       456 137.4  
  Effect of current year share issue —       3 287.7  
  Effect of prior year share issue 16 712.3       —  
  Effect of current year share repurchases by the share trust (288.5)      (6 337.0) 
  Effect of share sales on the take-up of share options 1 343.0       1 422.8  
  Prior year net share repurchases now fully weighted (407.8)      (141.7) 
  At 28 February 471 728.2       454 369.2  
 
    GROUP
       
    2009  
Rm  		   2008  
Rm  
Restated*
6.2 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 1 048.3     934.4  
  Diluted headline earnings 982.1     900.9  
  and: Number of  
shares  
000’s  		   Number of  
shares  
000’s  
  The diluted weighted average number of ordinary shares in issue during the year 475 533.9     477 305.8  
    Rm     Rm  
  Reconciliation between basic and diluted basic earnings:    
  Basic earnings (profit for the year) 1 048.3     933.4  
  Debenture interest after tax —     1.0  
  Diluted basic earnings 1 048.3     934.4  
  Headline earnings adjustments (note 6.1) (66.2)    (33.5) 
  Diluted headline earnings 982.1     900.9  
    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 6.1) 471 728.2     454 369.2  
  Shares issued on conversion of debentures —     16 712.3  
  Dilutive effect of share options 3 805.7     6 224.3  
  Weighted average number of ordinary shares in issue for purposes of calculating diluted earnings per share 475 533.9     477 305.8  
  Refer to note 19 for the number of shares in issue.      
 
 
  *Please refer to note 31 for details of the restatement of prior year figures.