Preliminary results for the year ended 30 January 2010

 

25 March 2010

 

Notes to the consolidated financial statements

Year ended 30 January 2010

7. Earnings per share

      2009/10     2008/09
  Earnings
£ millions
Weighted average number of shares millions Earnings per share pence Earnings
£ millions
Weighted average number of shares millions Earnings per share pence
Continuing operations:
Basic earnings per share 388 2,347 16.5 5 2,345 0.2
Dilutive share options   22 (0.1)   9 -
Diluted earnings per share 388 2,369 16.4 5 2,354 0.2
             
Basic earnings per share 388 2,347 16.5 5 2,345 0.2
Exceptional items (17)   (0.7) 273   11.7
Tax on exceptional and prior year items 14   0.7 (23)   (1.0)
Financing fair value remeasurements (2)   (0.1) 5   0.2
Tax on financing fair value remeasurements 1   - (2)   (0.1)
Adjusted basic earnings per share 384 2,347 16.4 258 2,345 11.0
             
Diluted earnings per share 388 2,369 16.4 5 2,354 0.2
Exceptional items (17)   (0.7) 273   11.7
Tax on exceptional and prior year items 14   0.7 (23)   (1.0)
Financing fair value remeasurements (2)   (0.1) 5   0.2
Tax on financing fair value remeasurements 1   - (2)   (0.1)
Adjusted diluted earnings per share 384 2,369 16.3 258 2,354 11.0
             
Total operations:            
Basic earnings per share 388 2,347 16.5 209 2,345 8.9
Dilutive share options   22 (0.1)   9 -
Diluted earnings per share 388 2,369 16.4 209 2,354 8.9

Basic earnings per share is calculated by dividing the profit for the year attributable to equity shareholders of the Company by the weighted average number of shares in issue during the year, excluding those held in the Employee Share Ownership Plan Trust (‘ESOP’) which for the purpose of this calculation are treated as cancelled.

For diluted earnings per share, the weighted average number of shares is adjusted to assume conversion of all dilutive potential ordinary shares. These represent share options granted to employees where both the exercise price is less than the average market price of the Company’s shares during the year and any related performance conditions have been met.

Keep up to date

News
feeds

Subscribe to our RSS feeds and get the latest information as soon as it’s released

Sign up to our email alert service and get the latest updates delivered to your inbox

Follow us on Twitter to
keep up to date with the
latest corporate news

On the move

Live share price and news on our mobile site or Investor Relations iPad app