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Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

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Notes to the Financial Statements Continued<br />

7 Earnings per share<br />

Basic earnings per share are calculated on the profit attributable to shareholders of US$67.1 million<br />

(2007: US$108.2 million) and on the weighted average number of 980.7 million (2007: 969.8 million) shares<br />

in issue during the year (refer principal accounting policy (v)).<br />

Diluted earnings per share are calculated on profit attributable to shareholders of US$67.1 million<br />

(2007: US$108.2 million), which is after adjusting for the effects of the conversion of dilutive potential ordinary<br />

shares of subsidiary undertakings, associates or joint ventures, and on the weighted average number of 988.8 million<br />

(2007: 987.1 million) share in issue during the year (refer principal accounting policy (v)).<br />

The weighted average number of shares is arrived at as follows:<br />

50 <strong>Mandarin</strong> <strong>Oriental</strong> <strong>International</strong> <strong>Limited</strong><br />

Ordinary shares in millions<br />

2008 2007<br />

Weighted average number of shares in issue 988.5 987.0<br />

Shares held by the Trustee under the Senior Executive Share Incentive Schemes (7.8 ) (17.2 )<br />

Weighted average number of shares for basic earnings per share calculation<br />

Adjustment for shares deemed to be issued for no consideration<br />

980.7 969.8<br />

under the Senior Executive Share Incentive Schemes 8.1 17.3<br />

Weighted average number of shares for diluted earnings per share calculation 988.8 987.1<br />

Basic and diluted earnings per share are also presented based on profit attributable to shareholders excluding gain on<br />

disposal and writeback of impairment. A reconciliation of earnings is set out below:<br />

2008 2007<br />

Basic Diluted Basic Diluted<br />

earnings earnings earnings earnings<br />

per share per share per share per share<br />

US$m US¢ US¢ US$m US¢ US¢<br />

Profit attributable to shareholders<br />

excluding gain on disposal and<br />

writeback of impairment 67.1 6.84 6.79 87.1 8.98 8.82<br />

Gain on disposal – – – 16.0 1.65 1.62<br />

Writeback of impairment – – – 5.1 0.53 0.52<br />

Profit attributable to shareholders 67.1 6.84 6.79 108.2 11.16 10.96

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