Interim results for the 26 weeks ended 31 July 2010

 

16 September 2010

 

Notes to the condensed consolidated financial statements (UNAUDITED)

for the 26 weeks ended 31 July 2010

8. Earnings per share

Pence Half year ended
31 July 2010
Half year ended
1 August 2009
Year ended
30 January 2010
Basic earnings per share 10.6 8.5 16.5
Effect of dilutive share options (0.1) - (0.1)
Diluted earnings per share 10.5 8.5 16.4
       
Basic earnings per share 10.6 8.5 16.5
Exceptional items 0.3 - (0.7)
Tax on exceptional and prior year items (0.2) 0.1 0.7
Financing fair value remeasurements (0.1) - (0.1)
Adjusted basic earnings per share 10.6 8.6 16.4
       
Diluted earnings per share 10.5 8.5 16.4
Exceptional items 0.3 - (0.7)
Tax on exceptional and prior year items (0.2) 0.1 0.7
Financing fair value remeasurements (0.1) - (0.1)
Adjusted diluted earnings per share 10.5 8.6 16.3

The calculation of basic and diluted earnings per share is based on the profit for the period attributable to equity shareholders of the Company. Earnings for the period are £250m (2009/10: £201m) and for the year ended 30 January 2010 were £388m. Adjusted earnings for the period are £248m (2009/10: £204m) and for the year ended 30 January 2010 were £384m. A reconciliation of statutory earnings to adjusted earnings is set out in the Financial Review.

The weighted average number of shares in issue during the period, excluding those held in the Employee Share Ownership Plan Trust (ESOP), is 2,348m (2009/10: 2,347m). The diluted weighted average number of shares in issue during the period is 2,375m (2009/10: 2,372m). For the year ended 30 January 2010, the weighted average number of shares in issue was 2,347m and the diluted weighted average number of shares in issue was 2,369m.