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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
8.
EARNINGS PER SHARE
Headline earnings is determined as follows:
Continuing operations
Earnings attributable to owners of Adcock Ingram from total operations
168 801
197 932
Adjusted for:
Loss attributable to owners of Adcock Ingram from discontinued operations (note 2.1)
203 403
146 868
Earnings attributable to owners of Adcock Ingram from continuing operations
372 204
344 800
Adjusted for:
Impairment of intangible assets
3 149
–
Loss/(profit) on disposal/scrapping of property, plant and equipment
888
(1 244)
Tax effect on loss/(profit) on disposal of property, plant and equipment
(23)
(227)
Profit on disposal of business (note 1.1)
–
(8 260)
Adjustments relating to equity accounted joint ventures
–– Loss on disposal of property, plant and equipment
211
56
–– Tax effect on loss on disposal of property, plant and equipment
–
(23)
–– Loss on disposal of long-term receivable
–
328
–– Tax effect on loss on disposal of long-term receivable
–
51
Headline earnings from continuing operations
376 429
335 481
Discontinued operations
Loss attributable to owners of Adcock Ingram from discontinued operations
(203 403)
(146 868)
Adjusted for:
Impairment of held-for sale assets (note 2.1)
207 971
–
Impairment of property, plant and equipment
–
7 390
Share of non-controlling interest in the impairment of property, plant and equipment
–
(1 819)
Impairment of intangible assets
–
74 432
Profit on sale of intangible asset
(320)
–
Loss on disposal/scrapping of property, plant and equipment
70
1 735
Headline earnings/(loss) from discontinued operations
4 318
(65 130)
Number of shares
Reconciliation of diluted weighted average number of shares:
Weighted average number of ordinary shares in issue:
–– Issued shares at the beginning of the year
175 741 348
175 644 748
–– Effect of ordinary shares issued during the year
5 528
45 744
–– Effect of ordinary treasury shares held within the Group
(9 262 130)
(6 856 163)
Weighted average number of ordinary shares outstanding
166 484 746
168 834 329
Potential dilutive effect of outstanding share options
–
6 700
Diluted weighted average number of shares outstanding
166 484 746
168 841 029
Basic earnings per share
is derived by dividing earnings attributable from continuing operations to owners of Adcock Ingram for the
year by the weighted average number of shares in issue.
Diluted earnings per share
is derived by dividing earnings attributable from continuing operations to owners of Adcock Ingram for the
year by the diluted weighted average number of shares in issue. Diluted earnings per share reflect the potential dilution that could occur
after taking into account all of the Group’s outstanding options which are potentially exercisable and the effects of all dilutive potential
shares resulting from the empowerment share transaction are accounted for.
Headline earnings per share
is derived by dividing earnings attributable from continuing operations to owners of Adcock Ingram for
the year, after appropriate adjustments are made, by the weighted average number of shares in issue.
2016
R’000
2015
R’000
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS