B. PERFORMANCE ANALYSES
B1 DIVIDEND PER SHARE
 
  GROUP     COMPANY  
  30 June 2019
R000		 30 June 2018
R000		     30 June 2019
R000		 30 June 2018
R000		  
Total dividend declared and paid(1) 1 956 467 1 795 398     1 959 628 1 798 963  
   Interim dividend in respect of the six months ended 31 December 2018 (31 December 2017) 985 139 933 205     986 603 934 884  
   Final dividend in respect of the six months ended 30 June 2018 (30 June 2017) 971 328 862 193     973 025 864 079  
Total dividend per share for the year (cents) 765,8 724,1     765,8 724,1  
Dividend declared in February 2019/February 2018 385,6 376,3     385,6 376,3  
Dividend declared in August 2018/August 2017 380,2 347,8     380,2 347,8  
(1) This amount is reflected in the statement of changes in equity
  GROUP AND COMPANY  
  30 June 2019
Cents		 30 June 2018
Cents		  
Distribution details (amounts distributed from earnings for the year) 744,9 756,5  
   Six months ended 30 June (declared August 2019/2018) 359,3 380,2  
   Six months ended 31 December (declared February 2019/2018) 385,6 376,3  
B2 EARNINGS PER SHARE
 

Earnings – The calculation of basic and headline earnings per share is based on the total profit attributable to shareholders of the company, adjusted as shown in the reconciliation below.

Number of shares – The weighted average number of ordinary shares in issue is based on the actual number of ordinary shares in issue adjusted for the treasury shares held by the group and has been used to calculate basic earnings per share and headline earnings per share.

Diluted number of shares – The fully diluted weighted average number of ordinary shares in issue is calculated after taking into account the effect of all potentially dilutive shares which may be issued under the Hyprop share scheme. 
        GROUP     COMPANY  
    Note   30 June 2019 
R000 		 30 June 2018 
R000 		     30 June 2019 
R000 		 30 June 2018 
R000 		  
B2.1 Earnings reconciliation – basic to headline earnings                  
  Profit for the year attributable to shareholders of the company (basic earnings)       164 922  2 529 466        320 362  2 243 150    
   Headline earnings adjustments        406 040  (638 616)       237 406  (184 601)   
      Change in fair value of investment property  E1.5     425 125  (646 359)       240 231  (646 862)   
      Non-controlling interests(1)        (46 224) 338        –  –    
      Profit on disposal of investment property        (2 825) (2 697)       (2 825) (2 697)   
      Other impairments        29 964  10 102        –  464 958    
   Headline earnings        570 962  1 890 850        557 768  2 058 549    
  (1) See note B2.4
B2.2 Weighted average number of ordinary shares
 
  GROUP     COMPANY  
  30 June 2019 
Number of 
shares 		 30 June 2018 
Number of 
shares 		     30 June 2019 
Number of 
shares 		 30 June 2018 
Number of 
shares 		  
Shares in issue at period end  255 894 516  255 894 516        255 894 516  255 894 516    
Issued shares at 1 July  255 894 516  248 441 278        255 894 516  248 441 278    
Effect of shares issued  –  1 041 411        –  1 041 411    
Effect of treasury shares held  (399 244) (458 469)       –  –    
Weighted average number of ordinary shares in issue  255 495 272  249 024 220        255 894 516  249 482 689    
Effect of dilutive shares  115 043  183 082        115 044  183 082    
Fully diluted weighted average number of ordinary shares in issue  255 610 315  249 207 302        256 009 560  249 665 771    
    GROUP     COMPANY  
    30 June 2019
Cents		 30 June 2018
Cents		     30 June 2019
Cents		 30 June 2018
Cents		  
B2.3 Earnings per share (cents per share)              
  Basic earnings per share (EPS) 64,5 1 015,8     125,2 899,1  
  (Profit for the year attributable to shareholders of the company (basic earnings) divided by weighted average number of ordinaryshares in issue)              
  Fully diluted earnings per share (DEPS) 64,5 1 015,0     125,1 898,5  
  (Profit for the year attributable to shareholders of the company (basic earnings) divided by fully diluted weighted average numberof ordinary shares in issue)              
  Headline earnings per share (HEPS) 223,5 759,3     218,0 825,1  
  (Headline earnings divided by weighted average number of ordinary shares in issue). See note B2.4              
  Fully diluted headline earnings per share (DHEPS) 223,4 758,7     217,9 824,5  
  (Headline earnings divided by fully diluted weighted average number of ordinary shares in issue). See note B2.4              
B2.4 Restatement of previous version of financial statements
 

The reconciliation of basic earnings to headline earnings (note B2.1) and the calculations of headline earnings per share and diluted headline earnings per share (note B2.3) have been restated from those contained in the consolidated audited financial statements for the year ended 30 June 2019 which was originally approved by the board of directors and dated 4 September 2019 (“the previous financial statements”).

The reason for the restatement is that the basic earnings to headline earnings reconciliation (note B2.1) in the previous financial statements erroneously included an adjustment adding back the non-controlling interest portion of the change in the fair value of investment property adjustment when it should have been deducted. The consolidated financial statements have been corrected to reflect this change.

The aforementioned restatement does not affect the calculation of distributable income for the year ended 30 June 2019 or the statements of financial position, statements of profit or loss and other comprehensive income, statements of changes in equity or statements of cash flows, all of which remain unchanged from the previous financial statements.