Carphone Warehouse 2005 Annual Report Download - page 47

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10 Reconciliation of headline information to statutory information
2005 2004
EBITDA Operating profit Profit before tax EBITDA Operating profit Profit before tax
£’000 £’000 £’000 £’000 £’000 £’000
Headline 154,844 106,948 102,103 122,831 81,147 76,289
Amortisation of goodwill – (33,229) (33,229) – (25,417) (25,417)
Exceptional items (see note 6) –––(4,733) (4,733) (6,385)
Statutory 154,844 73,719 68,874 118,098 50,997 44,487
EBITDA represents earnings before interest, taxation, depreciation and amortisation of goodwill. Contribution represents EBITDA before allocation of support costs.
11 Earnings per share
The calculations of earnings per share are based on the following profits and numbers of shares:
2005 2004
£’000 £’000
Profit for the financial period 48,964 27,704
Amortisation of goodwill 33,229 25,417
Operating exceptional items (net of tax) –4,733
Non-operating exceptional items (net of tax) –1,652
Headline earnings (before amortisation of goodwill and exceptional items) 82,193 59,506
2005 2004
Number of shares Number of shares
000’s 000’s
Weighted average number of shares:
For basic earnings per share 875,569 873,555
Dilutive effect of share options 39,078 11,318
For diluted earnings per share 914,647 884,873
Basic pence per share Diluted pence per share
2005 2004 2005 2004
Earnings per share 5.59 3.17 5.35 3.13
Headline earnings per share (see note 10) 9.39 6.81 8.99 6.72
Headline earnings per share is provided because the Directors consider that it gives a better indication of underlying performance than standard earnings per share.
12 Prior period adjustments
During the period ended 27 March 2004 the Group implemented Urgent Issues Task Force 38 ‘Accounting for ESOP Trusts’, and in accordance with the abstract
restated prior period figures. The effect of the adjustment was to transfer the Group’s investment in an Employee Share Ownership Trust from investments to reserves.
Notes to the Financial Statements continued www.cpwplc.com 43