Notes to the accounts
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9 Earnings per share
| 2007 million |
2006 million |
|
|---|---|---|
| Weighted average ordinary shares in issue | 362.8 | 340.0 |
| Weighted average ordinary shares held as treasury shares and by ESOP | (1.1) | (1.5) |
| Weighted average ordinary shares in issue for calculation of basic earnings per share | 361.7 | 338.5 |
| Weighted average ordinary shares to be issued on conversion of bonds and under employee incentive arrangements | 14.7 | 15.0 |
| Weighted average ordinary shares in issue for calculation of diluted earnings per share | 376.4 | 353.5 |
| 2007 £m |
2006 £m |
|
|---|---|---|
| Earnings used for calculation of basic earnings per share | (105.0) | 1,564.1 |
| Reduction in interest charge from conversion of bonds, net of tax | 5.0 | 5.3 |
| Earnings used for calculation of diluted earnings per share | (100.0) | 1,569.4 |
| Basic earnings per share (pence) | (29.0)p | 462.1p |
| Diluted earnings per share (pence) | (26.6)p | 444.0p |
| Earnings used for calculation of basic earnings per share | (105.0) | 1,564.1 |
| Add back exceptional finance costs | 3.3 | 2.0 |
| Add back REIT entry charge | 3.9 | 154.3 |
| Less other exceptional tax | – | (30.4) |
| Add back/(less) gain on revaluation and sale of investment and development properties | 279.1 | (586.5) |
| Less fair value movement on derivative financial instruments | (27.0) | (163.5) |
| Add back/(less) deferred tax in respect of investment and development properties | 4.2 | (787.2) |
| Add back deferred tax in respect of derivative financial instruments | 15.6 | 51.2 |
| Add back/(less) deferred tax on capital allowances | 4.5 | (60.9) |
| Less gain on transfer of trading property to investment property, net of tax | – | (28.5) |
| Less amounts above due to minority interests | (48.3) | – |
| Earnings used for calculation of adjusted earnings per share | 130.3 | 114.6 |
| Adjusted earnings per share (pence) | 36.0p | 33.9p |
| Earnings used for calculation of adjusted earnings per share | 130.3 | 114.6 |
| Reduction in interest charge from conversion of bonds, net of tax | 5.0 | 5.3 |
| Earnings used for calculation of adjusted, diluted earnings per share | 135.3 | 119.9 |
| Adjusted, diluted earnings per share (pence) | 35.9p | 33.9p |