28. Earnings per share
 

The calculation of basic and headline earnings per share has been based on profit attributable to ordinary shareholders, amended as shown in the reconciliation below. The weighted average number of ordinary shares outstanding has been used for both basic and headline earnings, with adjustments for treasury shares held. The effect of all dilutive potential ordinary shares is shown in both the earnings (diluted) and the weighted average number of shares outstanding (diluted).

Earnings  Total 
2018 
R000 		    Total 
2017 
R000 		    Diluted 
2018 
R000 		    Diluted 
2017 
R000 		   
Reconciliation – basic to headline earnings                         
Profit for the year attributable to shareholders of the company  2 529 466     2 767 652     2 529 466     2 767 652    
Dilutive earnings adjustments                    (16 090)   
   Retention share scheme                    (6 754)   
   Performance share scheme                    (9 336)   
Profit attributable to shareholders of the company (basic/diluted earnings) 2 529 466     2 767 652     2 529 466     2 751 562    
Headline earnings adjustments  (638 616)    (1 173 228)    (638 616)    (1 173 228)   
   Change in fair value of investment property  (646 359)    (1 181 786)    (646 359)    (1 181 786)   
   Impairment/(reversal of impairment) of investment in joint venture  10 102     (10 102)    10 102     (10 102)   
   Non-controlling interest – Gruppo  338     2 557     338     2 557    
   Profit on disposal of investment property  (2 697)    (2 031)    (2 697)    (2 031)   
   Impairment of goodwill        18 134           18 134    
Headline earnings/diluted headline earnings  1 890 850     1 594 424     1 890 850     1 578 334    
Weighted average number of ordinary shares (basic and headline)                        
At 30 June 2018, the company had 255 894 516 shares in issue (2017: 248 441 278).                         
Issued shares at 1 July  248 441 278     243 256 092     248 441 278     243 256 092    
Effect of shares issued  1 041 411     4 645 358     1 041 411     4 645 358    
Effect of treasury shares held  (458 469)    (460 050)    (458 469)    (460 050)   
Effect of dilutive shares              183 082     279 131    
Weighted average shares in issue  249 024 220     247 441 400     249 207 302     247 720 531    
   Cents     Cents     Cents     Cents    
Earnings and headline earnings per share                         
Basic earnings per share  1 015.8     1 118.5     1 015.0     1 110.8    
Headline earnings per share  759.3     644.4     758.7     637.1