| 10. | EARNINGS PER SHARE |
| UNITED STATES DOLLAR | ||||||||||||||
| 2017 | 2016 Restated1 |
2015 Restated1 |
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| 10.1 | Basic (loss)/earnings per share from continuing operations - cents | (4 | ) | 19 | (31 | ) | ||||||||
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Basic (loss)/earnings per share is calculated by dividing the loss attributable to owners of the parent from continuing operations of US$31.8 million (2016: profit of US$157.0 million and 2015: loss of US$239.1 million) by the weighted average number of ordinary shares in issue during the year of 820,611,806 (2016: 809,889,990 and 2015: 774,763,151). |
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| 10.2 | Basic earnings/(loss) per share from discontinued operations - cents | 2 | — | (1 | ) | |||||||||
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Basic earnings/(loss) per share is calculated by dividing the earnings attributable to owners of the parent from discontinued operations of US$13.1 million (2016: profit of US$1.2 million and 2015: loss of US$8.2 million) by the weighted average number of ordinary shares in issue during the year of 820,611,806 (2016: 809,889,990 and 2015: 774,763,151). |
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| 10.3 | Diluted basic (loss)/earnings per share from continuing operations - cents | (4 | ) | 19 | (31 | ) | ||||||||
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Diluted basic (loss)/earnings per share is calculated on the basis of loss attributable to owners of the parent from continuing operations of US$31.8 million (2016: profit of US$157.0 million and 2015: loss of US$239.1 million) and 826,920,421 (2016: 810,082,191 and 2015: 774,763,151) shares being the diluted number of ordinary shares in issue during the year. |
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The weighted average number of shares has been adjusted by the following to arrive at the diluted number of ordinary shares: |
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| Weighted average number of shares | 820,611,806 | 809,889,990 | 774,763,151 | |||||||||||
| Share options in issue | 6,308,615 | 192,201 | — | 2 | ||||||||||
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| Diluted number of ordinary shares | 826,920,421 | 810,082,191 | 774,763,151 | |||||||||||
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| 10.4 |
Diluted basic earnings/(loss) per share from discontinued operations - cents |
2 | — | (1 | ) | |||||||||
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Diluted basic earnings/(loss) per share is calculated on the |
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1 Refer note 40 for further details. |
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2 Share option adjustments of 1,804,321 were excluded from the dilutive number of ordinary shares as they were anti-dilutive. |
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| 10.5 |
Headline earnings/(loss) per share from continuing operations - cents |
26 | 24 | (5 | ) | |||||||||
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Headline earnings/(loss) per share is calculated on the basis of adjusted net earnings attributable to owners of the parent from continuing operations of US$212.3 million (2016: earnings of US$198.3 million and 2015: loss of US$36.4 million) and 820,611,806 (2016: 809,889,990 and 2015: 774,763,151) shares being the weighted average number of ordinary shares in issue during the year. |
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Net (loss)/profit attributable to owners of the parent from continuing operations is reconciled to headline earnings as follows: |
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| Long-form headline earnings/(loss) reconciliation | ||||||||||||||
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(Loss)/profit attributable to owners of the parent from continuing operations |
(31.8 | ) | 157.0 | (239.1 | ) | |||||||||
| Profit on disposal of investments, net | — | (2.3 | ) | (0.1 | ) | |||||||||
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Gross |
— | (2.3 | ) | (0.1 | ) | |||||||||
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Taxation effect |
— | — | — | |||||||||||
| (Profit)/loss on disposal of assets, net | (2.6 | ) | (41.0 | ) | 0.5 | |||||||||
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Gross |
(4.0 | ) | (48.0 | ) | 0.1 | |||||||||
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Taxation effect |
1.2 | 7.0 | 0.2 | |||||||||||
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Non-controlling interest effect |
0.2 | — | 0.2 | |||||||||||
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Impairment, reversal of impairment and write-off of investments and assets and other, net |
246.7 | 84.6 | 202.3 | |||||||||||
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Impairment, net of reversal of impairment of investments and assets |
200.2 | 76.5 | 198.9 | |||||||||||
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Write-off of exploration and evaluation assets |
51.5 | 41.4 | 29.1 | |||||||||||
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Taxation effect |
(4.3 | ) | (32.1 | ) | (23.4 | ) | ||||||||
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Non-controlling interest effect |
(0.7 | ) | (1.2 | ) | (2.3 | ) | ||||||||
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| Headline earnings/(loss) | 212.3 | 198.3 | (36.4 | ) | ||||||||||
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| 10.6 |
Headline (loss)/earnings per share from discontinued operations - cents |
— | 1 | — | ||||||||||
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Headline (loss)/earnings per share is calculated on the basis of adjusted net loss attributable to owners of the parent from discontinued operations of US$2.4 million (2016: earnings of US$5.5 million and 2015: earnings of US$3.0 million) and 820,611,806 (2016: 809,889,990 and 2015: 774,763,151) shares being the weighted average number of ordinary shares in issue during the year. |
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Net profit/(loss) attributable to owners of the parent from discontinued operations is reconciled to headline earnings as follows: |
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| Long-form headline (loss)/earnings reconciliation | ||||||||||||||
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Profit/(loss) attributable to owners of the parent from discontinued operations |
13.1 | 1.2 | (8.2 | ) | ||||||||||
| Impairment and write-off of investments and assets and other, net | (15.5 | ) | 4.3 | 11.2 | ||||||||||
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Impairment of assets |
— | — | 14.2 | |||||||||||
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Gain on sale of discontinued operation |
(23.5 | ) | — | — | ||||||||||
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Write-off of exploration and evaluation assets |
1.5 | 6.1 | 1.7 | |||||||||||
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Taxation effect |
6.5 | (1.8 | ) | (4.7 | ) | |||||||||
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| Headline (loss)/earnings | (2.4 | ) | 5.5 | 3.0 | ||||||||||
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| 10.7 |
Diluted headline earnings/(loss) per share from continuing operations - cents |
26 | 24 | (5 | ) | |||||||||
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Diluted headline earnings/(loss) per share is calculated on the basis of headline earnings attributable to owners of the parent continuing operations of US$212.3 million (2016: earnings of US$198.3 million and 2015: loss of US$36.4 million) and 826,920,421 (2016: 810,082,191 and 2015: 774,763,151) shares being the diluted number of ordinary shares in issue during the year. |
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| 10.8 |
Diluted headline (loss)/earnings per share from discontinued operations - cents |
— | 1 | — | ||||||||||
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Diluted headline (loss)/earnings per share is calculated on the basis of headline loss attributable to owners of the parent discontinued operations of US$2.4 million (2016: earnings of US$5.5 million and 2015: earnings of US$3.0 million) and 826,920,421 (2016: 810,082,191 and 2015: 774,763,151) shares being the diluted number of ordinary shares in issue during the year. |
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| 1 | Refer note 40 for further details. |