ArcelorMittal South Africa 2007 Annual Report Page 108
Group
2007
Restated
2006
14. EARNINGS PER SHARE
Basic earnings per share is calculated by dividing earnings by
the weighted average number of ordinary shares in issue
during the year.
The weighted average number of shares is calculated taking
into account the shares issued as disclosed in the directors’
remuneration report and note 24.
Profit attributable to equity holders of the company (Rm)
5 716
4 696
Weighted average number of ordinary shares in issue
(thousands)
445 752
445 752
Basic earnings per share (cents)
1 282
1 054
Diluted earnings per share is calculated by dividing the earnings
by the weighted average number of ordinary shares in issue
during the year increased by the number of additional ordinary
shares that would have been outstanding assuming the
conversion of all outstanding share options representing dilutive
potential ordinary shares.
Profit attributable to equity holders of the company (Rm)
5 716
4 696
Weighted average number for diluted shares (thousands)
447 052
446 449
Diluted earnings per share (cents)
1 279
1 052
The calculation for headline earnings per share is based on the
basic earnings per share calculation, reconciled as follows:
2007
Gross
Rm
2007
Net
Rm
2006
Gross
Rm
Restated
2006
Net
Rm
Profit attributable to equity holders of the company
5 716
4 696
Plus IAS 16 loss on disposal or scrapping of property,
plant and equipment
31
22
48
34
Plus IFRS 5 write-down to recoverable amount on the
reclassification of assets previously classified as held for sale
4
3
Headline earnings (Rm)
5 741
4 730
Notes to the group and company annual financial statements continued
for the year ended 31 December 2007
