Wolseley Annual Report 2009
Notes to the consolidated financial statements
Year ended 31 July 2009
11. (Loss)/earnings per share
Basic loss per share from continuing and discontinued operations of 558.0 pence (2008: earnings per share of 41.0 pence)
is calculated on the loss for the year attributable to shareholders of £1,173 million (2008: profit of £74 million) on a weighted average number of ordinary shares in issue during the year.
Basic loss per share from continuing operations of 348.2 pence (2008: earnings per share of 134.0 pence) is calculated on the loss after tax from continuing operations of £732 million (2008: profit of £242 million) on a weighted average number of ordinary shares in issue during the year, excluding those held by Employee Benefit Trusts, of 210 million (2008: restated number of 181 million). As detailed in note 12 below, the Group believes that profit measures before exceptional items and the amortisation and impairment of acquired intangibles provide valuable additional information for users of the financial statements. Basic earnings per share from continuing operations, before exceptional items and the amortisation and impairment of acquired intangibles, has, therefore, been presented in the following table:
| Continuing operations | 2009 | 2008 (restated) |
|---|---|---|
| Before exceptional items and the amortisation and impairment of acquired intangibles | 95.6p | 240.3p |
| Add back: exceptional items (net of tax) | (170.3)p | (24.9)p |
| Add back: amortisation and impairment of acquired intangibles (net of deferred tax) | (273.5)p | (81.4)p |
| Basic (loss)/earnings per share | (348.2)p | 134.0p |
The impact of all potentially dilutive share options on earnings per share would be to increase the weighted average number of shares in issue to 211 million (2008: restated number of 181 million). The diluted loss per share from continuing operations is also 348.2 pence (2008: earnings per share of 133.8 pence). Diluted earnings per share from continuing operations before exceptional items and the amortisation and impairment of acquired intangibles is 95.5 pence (2008: 239.9 pence).