| 2009 | 2010 | Figures in million | 2010 | 2009 |
|---|---|---|---|---|
| SA Rands | US Dollars | |||
13 Earnings per ordinary share |
||||
| (765) | 171 | Basic profit (loss)
per ordinary share
The calculation of basic profit (loss) per ordinary share is based on profits attributable to equity shareholders of$76m, R637m (2009: losses of $320m, R2,762m)and 371,870,821 (2009: 361,228,295) shares being the weighted average number of ordinary shares in issue during the financial year. |
20 | (89) |
| (765) | 171 | Diluted profit (loss) per ordinary share
The calculation of diluted profit (loss) per ordinary share is based on profits attributable to equity shareholders of $76m, R637m (2009: losses of $320m, R2,762m) and 373,440,427 (2009: 361,228,295) shares being the diluted number of ordinary shares. In 2009, no adjustment was made since the effect is anti-dilutive. |
20 | (89) |
| 2010 | 2009 | |
|---|---|---|
| Number of shares | ||
| In calculating the basic and diluted number of ordinary shares outstanding for the year, the following were taken into consideration: | ||
| Ordinary shares | 367,664,700 | 356,563,773 |
| E ordinary shares (1) | 3,182,662 | 3,873,169 |
| Fully vested options (2) | 1,023,459 | 791,353 |
| Weighted average number of shares | 371,870,821 | 361,228,295 |
| Dilutive potential of share options (3) | 1,569,606 | – |
| Diluted number of ordinary shares | 373,440,427 | 361,228,295 |
| (1) | As E ordinary shares participate in the profit available to ordinary shareholders, these shares were included in basic earnings per share. |
| (2) | Employee compensation awards, are included in basic earnings per share from the date that all necessary conditions have been satisfied and it is virtually certain that shares will be issued as a result of employees exercising their options. |
| (3) | The calculation of diluted earnings per share in 2009 did not take into account the effect of 1,234,858 shares, issuable on share awards as the effect of this was anti-dilutive for this period. |
The calculation of diluted earnings per share did not take into account the effect of 33,524,615 (2009: 15,384,615) shares, issuable upon the exercise of convertible bonds, as the effect of this was anti-dilutive for this period.
| 2009 | 2010 | Figures in million | 2010 | 2009 |
|---|---|---|---|---|
| SA Rands | US Dollars | |||
| Headline earnings (loss)
The profit (loss) attributable to equity shareholders was adjusted by the following to arrive at headline earnings (loss): |
||||
| (2,762) | 637 | Profit (loss) attributable to equity shareholders | 76 | (320) |
| (5,115) | 634 | Net impairments (reversals) of tangible assets (notes 6, 15 and 24) | 91 | (683) |
| (420) | 191 | Net loss (profit) on disposal and derecognition of land, mineral rights, tangible assets and exploration properties (note 6) | 25 | (49) |
| – | 16 | Impairment of investment (notes 6 and 18) | 2 | – |
| 76 | 157 | Impairment of investment in associates and joint ventures (note 8) | 24 | 10 |
| (75) | (126) | Reversal of impairment in associates (note 8) | (19) | (10) |
| 1 | (7) | Special items of associates (note 8) | (1) | – |
| – | (314) | Profit on disposal of investments (note 6) | (43) | – |
| Taxation on items above | ||||
| 145 | 4 | – current portion (note 12) | – | 18 |
| 1,360 | (230) | – deferred portion (note 12) | (33) | 182 |
| (6,790) | 962 | 122 | (852) | |
| (1,880) | 259 | Cents per share
Headline earnings (loss) removes items of a capital nature from the calculation of earnings per share, calculated in accordance with Circular 3/2009 issued by the South African Institute of Chartered Accountants (SAICA). The calculation of headline earnings (loss) per ordinary share is based on headline earnings of $122m, R962m (2009: losses of $852m, R6,790m) and 371,870,821 (2009: 361,228,295) shares being the weighted average number of ordinary shares in issue during the year. |
33 | (236) |