6. BASIC, DILUTED AND HEADLINE EARNINGS PER SHARE FOR CONTINUING OPERATIONS
6.1 Basic earnings per share
 

Basic earnings per share is calculated by dividing the profit attributable to equity holders of Bidcorp by the weighted average number of ordinary shares in issue during the year, excluding those ordinary shares held as treasury shares.

Weighted average number of shares in issue is calculated as the number of shares in issue at the beginning of the year, increased/decreased by shares issued/treasury shares sold during the year, weighted on a time basis for the year during which they have participated in the profit of Bidcorp.

      2018 
       2017 
   
   Profit attributable to shareholders of the company (R’000) 4 072 252        4 019 526    
   Weighted average number of shares in issue (’000) 332 725        332 065    
   Basic earnings per share (cents) 1 223,9        1 210,5    
6.2  Diluted basic earnings per share                
   The diluted basic earnings per share is calculated by adjusting the weighted average number of shares outstanding to assume conversion of all dilutive potential ordinary shares.                
   Dilutive earnings* (R’000) 4 072 252        4 019 526    
   Weighted average number of shares in issue (’000) 332 725        332 065    
   Potential dilutive impact of outstanding share options and conditional awards (’000) 926        730    
      Number of outstanding staff share options  4 293        4 228    
      Number of share options deemed to be issued at fair value  (3 465)       (3 554)   
      Contingent issuable shares in terms of conditional share plan to be issued not at fair value  98        56    
   Dilutive weighted average number of shares (’000) 333 651        332 795    
   Diluted basic earnings per share (cents) 1 220,5        1 207,8    
   Dilution (%) 0,3%        0,2%    
   * There were no reconciling items for the diluted earnings.                
      R’000        R’000    
6.3 Headline earnings per share               
   Profit attributable to shareholders of the company  4 072 252        4 019 526    
   Net impairments  235 073        383 228    
      Goodwill  200 216        176 174    
      Property, plant and equipment  28 448        93 727    
      Intangible assets  5 347        94 384    
      Investment at fair value through OCI  1 329        43 379    
      Associate  267        –    
      Taxation relief  (534)       (24 436)   
   Net loss (profit) on disposal of interests in subsidiaries and interest in associates  9 050        (465 882)   
      Disposal of subsidiaries  9 050        (510 232)   
      Disposal of interest in associates  –        (11 804)   
      Tax charge  –        56 154    
   Net profit on disposal of property, plant and equipment and intangible assets  (10 389)       (21 175)   
      Property, plant and equipment  (15 318)       (7 122)   
      Intangible assets  –        (14 203)   
      Taxation charge  4 929        150    
   Gain from bargain purchase  (4 222)       –    
   Insurance proceeds received in relation to the impairment of property, plant and equipment  (21 974)       –    
   Headline earnings  4 279 790        3 915 697    
   Headline earnings per share (cents) 1 286,3        1 179,2    
   Diluted headline earnings per share (cents) 1 282,7        1 176,6    
   Dilution (%) 0,3%        0,2%