Glanbia plc - FY 2015 Results Release 24 02 16

Notes to the financial statements
for the financial year ended 02 January 2016
6. Earnings per share
Basic
Basic earnings per share is calculated by dividing the net profit attributable to the equity holders of the Parent by the weighted
average number of Ordinary Shares in issue during the year, excluding Ordinary Shares purchased by the Group and held as own
shares.
2015 2014
Profit attributable to equity holders of the Parent (€’000) 183,271 146,313
Weighted average number of Ordinary Shares in issue 295,196,003 295,011,089
Basic earnings per share (cent per share) 62.08 49.60
Diluted
Diluted earnings per share is calculated by adjusting the weighted average number of Ordinary Shares in issue to assume conversion
of all potential dilutive Ordinary Shares. Share options and share awards are the Company’s only potential dilutive Ordinary Shares. In
respect of share options and share awards, a calculation is performed to determine the number of shares that could have been
acquired at market price (determined as the average annual market price of the Company’s shares) and the fair value (determined as
the fair value at the date of grant) attached to outstanding share options and awards. The number of shares calculated above is
compared with the number of shares that would have been issued assuming the exercise of all share options and awards.
2015 2014
Weighted average number of Ordinary Shares in issue 295,196,003 295,011,089
Adjustments for share awards 1,002,678 1,510,550
Adjustments for share options 42,617 134,881
Adjusted weighted average number of Ordinary Shares 296,241,298 296,656,520
Diluted earnings per share (cent per share) 61.87 49.32
Adjusted
Adjusted earnings per share is calculated on the net profit attributable to equity holders of the Parent, before exceptional items (net
of related tax) and intangible asset amortisation (net of related tax). Adjusted earnings per share is considered to be more reflective
of the Group’s overall underlying performance and reflects the metrics used by the Group to measure profitability and financial
performance.
Profit attributable to equity holders of the Parent 183,271 146,313
Amortisation of intangible assets (net of related tax) 26,126 19,698
Amortisation of Joint Ventures & Associates intangible assets (net of related tax) 417 345
Exceptional items (net of related tax) 23,799 14,079
Adjusted net income 233,613 180,435
2015
€’000
2014
€’000
Adjusted earnings per share (cent per share) 79.14 61.16
Diluted adjusted earnings per share (cent per share) 78.86 60.82
7. Dividends
Dividends paid per Ordinary Share are as follows:
Final dividend for the year ended 03 January 2015 of 6.57 cent per share paid on 15 May 2015 19,449
Final dividend for the year ended 04 January 2014 of 5.97 cent per share paid on 16 May 2014 17,650
Interim dividend for the year ended 02 January 2016 of 4.88 cent per share paid on 16 October 2015 14,446
Interim dividend for the year ended 03 January 2015 of 4.43 cent per share paid on 10 October 2014 13,101
33,895 30,751
The Directors have recommended the payment of a final dividend of 7.22 cent per share on the Ordinary Shares which amounts to
€21.4 million. Subject to shareholder approval, this dividend will be paid on 29 April 2016 to shareholders on the register of members
at 18 March 2016, the record date. These Financial Statements do not reflect this final dividend. There are no income tax
consequences for the Company in respect of dividends proposed prior to issuance of the Financial Statements.
2015
€’000
2014
€’000
25 Glanbia plc 2015 full year results