51 Finsbury Food Group Annual Report & Accounts 2016


9. Taxation (continued)


  The deferred tax asset at 2 July 2016 has been calculated based on the rate of 18% substantively enacted at the balance sheet date. The impact 


 


The adjustment of £381,000 for prior year includes deferred tax on amortisation of intangibles (see Notes 12 and 24 for further details), ineligible capital spend and additional tax relief on qualifying R&D expenditure for prior periods.


 


10. Earnings Per Ordinary Share


 in issue being 126,938,000 (2015: 106,759,000).


Basic 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. At 2 July 2016, the diluted weighted average number of shares in issue was 129,206,000 (2015: 110,507,000).


An adjusted earnings per share and an adjusted diluted earnings per share have also been calculated for a 52 week period as in the opinion of the Board this will allow shareholders to gain a clearer understanding of the trading performance of the Group and year on year comparisons. These adjusted earnings per share exclude:


   exchange contracts


     • Amortisation of intangible assets





53 weeks to 2 Jul 2016 £000





 (basic)


 intangibles and other items


Numerator for adjusted earnings per share calculation (adjusted basic)


7,791 4,692 12,483


Basic ‘000


Shares


Weighted average number of ordinary shares in issue during the period





126,938 126,938 126,938 126,938 106,759 106,759 -


2,268 Pence


Diluted Pence


-


Basic Pence


2,268


Diluted Pence


-


Basic Pence


3,748


126,938 129,206 126,938 129,206 106,759 110,507 Basic


Diluted Pence


Earnings per share Basic and diluted


Adjusted basic and adjusted diluted


Diluted ‘000


7,528 4,692 12,220


Basic ‘000


Diluted ‘000


Basic ‘000


6,179 2,643 8,822


Diluted ‘000


52 weeks to 2 Jul 2016 £000


52 weeks to 27 Jun 2015 £000


6.1 9.8


6.0 9.7


5.9 9.6


5.8 9.5


5.8 8.3


5.6 8.0


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