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88 EEAARRNNIINNGGSS PPEERR SSHHAARREE
The calculation of earnings per ordinary share is based on earnings after tax and the weighted average number of ordinary shares
in issue during the year.
The adjusted earnings per share figures have also been calculated based on earnings excluding the effect of property disposals and
exceptional items. These have been calculated to allow the shareholders to gain an understanding of the underlying trading
performance of the Group.
For diluted earnings per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all
dilutive potential ordinary shares. The Group has only one class of dilutive potential ordinary shares being those share options granted
to employees where the exercise price is less than the average market price of the Company’s ordinary shares during the year.
Details of the adjusted earnings per share are set out below:
2
20000772006
££mm£m
EEaarrnniinnggss aafftteerr ttaaxx 665599..99523.1
Profit from discontinued operation (
(00..77))(2.5)
E
Eaarrnniinnggss aafftteerr ttaaxx –– ccoonnttiinnuuiinngg665599..22520.6
Property disposals (net of tax) (
(11..44))2.0
Exceptional finance costs (net of tax) 2
233..99–
AAddjjuusstteedd eeaarrnniinnggss aafftteerr ttaaxx –– ccoonnttiinnuuiinngg668811..77522.6
mmm
Weighted average number of ordinary shares in issue 1
1,,668888..661,667.0
Potentially dilutive share options under Group’s share option schemes 2
266..3314.5
Weighted average number of diluted ordinary shares 1
1,,771144..991,681.5
A
ABBaassiicc eeaarrnniinnggss ppeerr sshhaarree220000772006
Weighted average number of ordinary shares in issue (millions) 1
1,,668888..661,667.0
B
Baassiicc eeaarrnniinnggss ppeerr sshhaarree ((ppeennccee))3399..1131.4
Profit from discontinued operation per share (pence) –
–(0.1)
B
Baassiicc eeaarrnniinnggss ppeerr sshhaarree –– ccoonnttiinnuuiinngg ((ppeennccee))3399..1131.3
Property disposals per share (pence) (
(00..11))0.1
Exceptional finance costs per share (pence) 1
1..44–
AAddjjuusstteedd bbaassiicc eeaarrnniinnggss ppeerr sshhaarree –– ccoonnttiinnuuiinngg ((ppeennccee))4400..4431.4
B
BDDiilluutteedd eeaarrnniinnggss ppeerr sshhaarree220000772006
Weighted average number of diluted ordinary shares (millions) 1
1,,771144..991,681.5
D
Diilluutteedd eeaarrnniinnggss ppeerr sshhaarree ((ppeennccee))3388..5531.1
Profit from discontinued operation per share (pence) –
–(0.1)
D
Diilluutteedd eeaarrnniinnggss ppeerr sshhaarree –– ccoonnttiinnuuiinngg ((ppeennccee))3388..5531.0
Property disposals per share (pence) (
(00..11))0.1
Exceptional finance costs per share (pence) 1
1..44–
AAddjjuusstteedd ddiilluutteedd eeaarrnniinnggss ppeerr sshhaarree –– ccoonnttiinnuuiinngg ((ppeennccee))3399..8831.1
wwwwww..mmaarrkkssaannddssppeenncceerr..ccoomm//aannnnuuaallrreeppoorrtt22000077MARKS AND SPENCER GROUP PLC 6655
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