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9. Earnings per share

Basic EPS

The calculation of basic reported and headline EPS is as follows:

The calculation of basic reported and headline EPS is as follows:

 
Six
months
ended
30 June
2010
Six
months
ended
30 June
2009

 
 
 
+/(-)%

 
Constant
Currency
+/(-)%
Year
ended
31
December
2009
Reported earnings1 (£m) 150.8 108.4     437.7
Headline earnings (£m) (note 19) 239.2 159.8     550.0
Average shares used in Basic EPS calculation (m) 1,222.9 1,220.9     1,218.7
Reported EPS 12.3p 8.9p 38.2 21.7 35.9p
Headline EPS 19.6p 13.1p 49.6 38.7 45.1p
Notes
1
Reported earnings is equivalent to profit for the period attributable to equity holders of the parent.

 

Diluted EPS

The calculation of diluted reported and headline EPS is set out below:

The calculation of diluted reported and headline EPS is set out below:

 
Six
months
ended
30 June
2010
Six
months
ended
30 June
2009

 
 
 
+/(-)%

 
Constant
Currency
+/(-)%
Year
ended
31
December
2009
Diluted reported earnings (£m) 150.8 108.4     437.7
Diluted headline earnings (£m) 239.2 159.8     550.0
Shares used in diluted EPS calculation (m) 1,254.1 1,235.6     1,238.2
Diluted reported EPS 12.0p 8.8p 36.4 20.1 35.3p
Diluted headline EPS 19.1p 12.9p 48.1 36.8 44.4p

Diluted EPS has been calculated based on the reported and headline earnings amounts above. On 19 May 2009 the Group issued £450 million 5.75% convertible bonds due in 2014. For the six months ended 30 June 2010, these convertible bonds were accretive to earnings and therefore excluded from the calculation of diluted earnings.

A reconciliation between the shares used in calculating basic and diluted EPS is as follows:

A reconciliation between the shares used in calculating basic and diluted EPS is as follows:

 
Six months
ended
30 June
2010
 m
Six months
ended
30 June
2009
 m

Year ended
31 December
2009
 m
Average shares used in Basic EPS calculation 1,222.9 1,220.9 1,218.7
Dilutive share options outstanding 6.8 1.6 2.1
Other potentially issuable shares 24.4 13.1 17.4
Shares used in Diluted EPS calculation 1,254.1 1,235.6 1,238.2

At 30 June 2010 there were 1,258,183,857 ordinary shares in issue.

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