23. 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 R55.4 million (June 2023: net profit of R183.5 million), and a weighted average number of shares of 830.3 million (June 2023: 597.8 million) shares in issue. The calculation of headline earnings per share for the Group is calculated on adjusted headline earnings of R334.8 million (June 2023: R217.3 million), and a weighted average number of shares of 830.3 million (June 2023: 597.8 million) shares in issue.

Group 
June 2024 
R’000 
Restated*
June 2023 
R’000
 
RECONCILIATION OF HEADLINE EARNINGS PER SHARE
Total profit and loss attributable to the parent 
55 381  183 523 
BASIC EARNINGS  55 381  183 523 
ADJUSTED FOR: 
Impairment of property and equipment  26 611  25 000 
Impairment of intangible assets  230 835  – 
Loss on disposal of subsidiaries  –  198 
Impairment of investment in associates  14 661  – 
Loss on disposal of tangible assets  3 495  3 338 
Write-off of intangible assets  6 060  5 415 
Fair value (losses)/profits on investment property  (1 769) 1 750 
Total non-controlling interest effect of adjustments  –  (592)
Total tax effects of adjustments  (466) (1 374)
HEADLINE EARNINGS  334 808  217 258 
EARNINGS PER SHARE (CENTS)
Basic 
6.67  30.70 
Basic  6.67  30.70 
Diluted  6.51  29.57 
Diluted  6.51  29.57 
HEADLINE EARNINGS PER SHARE (CENTS)
Basic 
40.32  36.34 
Diluted  39.37  35.01 
Weighted average number of ordinary shares used in the calculation of diluted earnings per share  830 328 259  597 825 403 
– dilutionary impact of contingent shares**  20 065 547  22 808 329 
Weighted average number of ordinary shares used in the calculation of diluted earnings per share  850 393 806  620 633 732 
* Refer to Note 34 for details on the restatements and Note 35 for transitioning to IFRS 17.
** The contingent shares relate to the share based payment awards. Refer to Note 27 for details