Hyprop Investments Limited Integrated annual report 2017

131 / 148

Hyprop Investments Limited
Integrated annual report and consolidated financial statements 2017
129
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
GROUP
June 2017
R000
Total
GROUP
June 2016
R000
Diluted
GROUP
June 2017
R000
Diluted
GROUP
June 2016
R000
Reconciliation – basic to headline earnings
Profit for the year attributable to: Shareholders of the company 2 767 652 2 767 160 2 767 652 2 767 160
Dilutive earnings adjustments (16 090) (14 542)
Retention share scheme (6 754) (5 507)
Performance share scheme (9 336) (9 034)
Profit attributable to shareholders of the company (basic/diluted earnings) 2 767 652 2 767 160 2 751 562 2 752 619
Headline earnings adjustments (1 173 228) (1 372 032) (1 173 228) (1 372 032)
Change in fair value of investment property (1 181 786) (1 382 134) (1 181 786) (1 382 134)
(Reversal of impairment)/impairment of investment in joint venture (10 102) 10 102 (10 102) 10 102
Loss on disposal of investment in subsidiary 2 557 2 557
Profit on disposal of investment property (2 031) (2 031)
Impairment of goodwill 18 134 18 134
Headline earnings/diluted headline earnings 1 594 424 1 395 128 1 578 334 1 380 587
Weighted average number of ordinary shares (basic and headline)
At 30 June 2017, the company had 248 441 278 shares in issue
(2016: 243 256 092).
Issued shares at 1 July 243 256 092 243 256 092 243 256 092 243 256 092
Effect of shares issued 4 645 358 4 645 358
Effect of treasury shares held (460 050) (335 011) (460 050) (335 011)
Effect of dilutive shares 279 131 446 677
Weighted average shares in issue 247 441 400 242 921 081 247 720 531 243 367 758
Cents Cents Cents Cents
Earnings and headline earnings per share
Basic earnings per share 1 118,5 1 139,1 1 110,8 1 131,1
Headline earnings per share 644,4 574,3 637,1 567,3