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KUWAIT ENERGY plc
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 June 2014
39
14.
EARNINGS PER SHARE
a)
Basic earnings per share
The earnings and weighted average number of shares used in the calculation of basic earnings per share are as
follows:
For the six months
period ended 30 June
For the year ended 31 December
2014
2013
2013
2012
2011
Audited
Unaudited
(Restated)
Audited
(Restated)
Audited
(Restated)
Audited
(Restated)
USD 000’s USD 000’s USD 000’s USD 000’s USD 000’s
Profit/(loss) for the period/year
from continuing operations
50,897
(22,859)
(2,583)
61,969
35,445
Loss for the period/year from
discontinued operations
(2,600)
(27,681)
(278,787)
(24,401)
(16,960)
Profit/(loss) for the period/year
from continuing and discontinued
operations
48,297
(50,540)
(281,370)
37,568
18,485
Shares
Shares
Shares
Shares
Shares
Weighted average number of
shares for the purpose of basic
earnings per share (thousands)
328,494
323,036
325,034
319,515
312,340
Basic earnings / (loss) per share
(cents) from continuing
operations
15.5
(7.1)
(0.8)
19.4
11.3
Basic loss per share (cents) from
discontinued operations
(0.8)
(8.6)
(85.8)
(7.6)
(5.4)
Basic earnings/(loss) per share
(cents) from continuing and
discontinued operations
14.7
(15.6)
(86.6)
11.8
5.9
b)
Diluted earnings per share
There was no difference between basic and diluted earnings per share for any of the periods shown.
During 2011, the only potentially dilutive instruments were the outstanding Employee Incentive Scheme (EIS)
share awards disclosed in note 29 which had a trivial dilution impact on earnings per share. These were
vested/issued during 2012.
From 2012 onwards, the only potential dilutive instruments were the convertible loans, disclosed in note 25.
However, the related impact on dilutive earnings per share is not included in the calculation as the number of shares
that could be exercised is dependent on certain future events.