Notes to the annual financial statements
for the year ended 28 February 2010
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| 2010 Cents per share |
2009 Cents per share* |
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| 6. | Basic, headline and diluted earnings/(losses) per share | |||
| Basic (note 6.1) | 251.25 | 223.60 | ||
| Continuing operations | 273.97 | 248.72 | ||
| Discontinued operation | (22.72) | (25.12) | ||
| Headline (note 6.1) | 213.90 | 209.57 | ||
| Continuing operations | 236.33 | 233.86 | ||
| Discontinued operation | (22.43) | (24.29) | ||
| Diluted basic (note 6.2) | 247.40 | 221.81 | ||
| Continuing operations | 269.76 | 246.73 | ||
| Discontinued operation | (22.36) | (24.92) | ||
| Diluted headline (note 6.2) | 210.62 | 207.89 | ||
| Continuing operations | 232.71 | 231.98 | ||
| Discontinued operation | (22.09) | (24.09) | ||
| 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) | 1 188.9 | 1 054.8 | ||
| Headline earnings | 1 012.1 | 988.6 | ||
| and: | Number of shares 000's |
Number of shares 000's |
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| The weighted average number of ordinary shares in issue during the year | 473 199.8 | 471 728.2 | ||
| Reconciliation between basic and headline earnings: | Rm | Rm* | ||
| Basic earnings (profit for the year) | 1 188.9 | 1 054.8 | ||
| Adjustments: | (184.0) | (66.2) | ||
| Loss on sale of equipment and vehicles | 5.6 | 13.7 | ||
| Loss on sale of equipment and vehicles – discontinued operation | 1.3 | 3.9 | ||
| Profit on sale of property | (190.9) | (68.7) | ||
| Profit on sale of stores | — | (15.1) | ||
| Tax effect of adjustments | 7.2 | — | ||
| Headline earnings | 1 012.1 | 988.6 | ||
| Number of shares 000' |
Number of shares 000' |
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| Movement in the weighted average number of ordinary shares in issue comprises: | ||||
| At 1 March | 471 728.2 | 454 369.2 | ||
| Effect of share issue in December 2007 | — | 16 712.3 | ||
| Effect of current year share repurchases by the share trust | (896.8) | (288.5) | ||
| Effect of share sales on the take-up of share options | 1 313.8 | 1 343.0 | ||
| Prior year net share sales/(repurchases) now fully weighted | 1 054.6 | (407.8) | ||
| At 28 February | 473 199.8 | 471 728.2 | ||
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| *Restated – refer to note 31.1 | ||||
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| 2010 Rm |
2009 Rm* |
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| 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 | 1 188.9 | 1 054.8 | ||
| Diluted headline earnings | 1 012.1 | 988.6 | ||
| and: | Number of shares 000' |
Number of shares 000' |
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| The diluted weighted average number of ordinary shares in issue during the year | 480 572.8 | 475 533.9 | ||
| No reconciliation between basic and diluted earnings is presented as there are no | ||||
| dilutive effects on earnings. | ||||
| 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) | 473 199.8 | 471 728.2 | ||
| Dilutive effect of share options | 7 373.0 | 3 805.7 | ||
| Weighted average number of ordinary shares in issue for purposes of calculating diluted earnings per share | 480 572.8 | 475 533.9 | ||
| Refer to note 19.1 for the number of shares in issue. | ||||
| *Restated – refer to note 31.1 | ||||
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