NOTES TO THE FINANCIAL STATEMENTS | Note 24

24. EARNINGS PER SHARE
 

The calculation of basic earnings per share for the Group is based on profit and loss attributable to the parent for the year of R304 million (June 2019: net profit of R270 million), and a weighted average number of shares of 574.2 million (June 2019: 560.8 million) shares in issue. The calculation of headline earnings per share for the Group is calculated on adjusted headline earnings of R306.7 million (June 2019: R265.3 million), and a weighted average number of shares of 574.2 million (June 2019: 560.8 million) shares in issue.

  Group   
  2020 
R’000 
  Restated 
2019 
R’000 
 
Reconciliation of headline earnings per share         
Total profit and loss attributable to the parent  303 575    269 880   
Adjusted for:         
Impairment/(reversal of impairment)*  2 919    67 515   
Reversal of fair value gains  –    (118 715)  
Loss on disposal of assets  2 130    44 694   
Total non-controlling interest effect of adjustments  (1 278)   1 867   
Total tax effects of adjustments  (596)   –   
Headline earnings  306 750    265 241   
Earnings per share (cents)        
Basic  52.87    48.14   
Diluted  51.79    47.40   
Headline earnings per share (cents)        
Basic  53.42    47.29   
Diluted  52.33    46.58   
Cash earnings per share (cents)**         
Basic  163.65    118.31   
Diluted  160.33    116.53   
Weighted average number of ordinary shares used in the calculation of basic earnings per share  574 241 248    560 826 280   
Adjusted for         
– dilutionary impact of contingent shares  11 900 000    8 570 000   
Weighted average number of ordinary shares used in the calculation of diluted earnings per share  586 141 248    569 396 280   
* This relates to impairment of the Solatium system (prior year: impairment of the investment in AAR Kenya as well as the impairment of the Gexus system).
** The cash generated from operations was used to arrive at this figure.

NOTES TO THE FINANCIAL STATEMENTS| Note 24