13 Earnings per share


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(a) Earnings per share

 

Profit/ (loss) before tax
2008

£m

Tax (expense)/ credit
2008

£m

Profit/ (loss) after tax
2008

£m

Per
share
2008

p

Profit before tax
2007
Restated
£m

Tax (expense)/ credit
2007
Restated
£m

Profit after tax
2007
Restated
£m

Per share
2007
Restated
p

Operating profit from continuing operations

870

(234)

636

10.66

848

(264)

584

9.06

Variation from longer term investment return

(1,579)

385

(1,194)

(20.01)

116

12

128

1.99

Effect of economic assumption changes

(609)

176

(433)

(7.26)

52

(13)

39

0.61

Corporate restructure

161

(45)

116

1.80

Effect of UK Budget tax changes

86

86

1.34

Tax impact of corporate restructure

81

81

1.36

206

206

3.19

Earnings per share based on (loss)/profit attributable to equity holders

(1,318)

408

(910)

(15.25)

1,177

(18)

1,159

17.99

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(b) Diluted earnings per share

(i) Based on operating profit from continuing operations after tax

 

Profit
after tax
2008

£m

Number of shares1
2008

m

Per
share
2008

p

Profit
after tax
2007
Restated
£m

Number of shares1
2007

m

Per
share
2007
Restated
p

Operating profit from continuing operations after tax

636

5,968

10.66

584

6,444

9.06

Net shares under options allocable for no further consideration

22

(0.04)

34

(0.04)

Diluted earnings per share

636

5,990

10.62

584

6,478

9.02

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(ii) Based on (loss)/profit attributable to equity holders of the Company

 

Loss
after tax
2008

£m

Number of shares1
2008

m

Per
share
2008

p

Profit
after tax
2007
Restated
£m

Number of shares1
2007

m

Per
share
2007
Restated
p

1.

Weighted average number of shares.

2.

Net shares under options allocable for no further consideration are anti-dilutive and have therefore been excluded from the diluted earnings per share calculation.

(Loss)/profit attributable to equity holders of the Company

(910)

5,968

(15.25)

1,159

6,444

17.99

Net shares under options allocable for no further consideration2

22

34

(0.10)

Diluted earnings per share

(910)

5,990

(15.25)

1,159

6,478

17.89

 

 

 

 

 

 

 

The number of shares in issue at 31 December 2008 was 5,861,627,994 (2007: 6,296,321,160).

 

 

 

 

 

 

 

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