9 EARNINGS PER SHARE AND NET ASSETS PER SHARE
Basic earnings per share amounts are calculated by dividing profit for the year attributable to ordinary equity holders of the parent by the weighted average number of Ordinary shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the profit attributable to Ordinary equity holders of the parent by the weighted average number of Ordinary shares outstanding during the year plus the weighted average number of Ordinary shares that would be issued on the conversion of all the dilutive potential Ordinary shares into Ordinary shares.

The calculation of basic and diluted earnings per share is based on the following data:

  2007
£’000
2006
£’000
Profit    
Profit for the purposes of basic and diluted earnings per share 39 23,559
  2007
£’000
2006
£’000
Number of shares    
Weighted average number of Ordinary shares for the purposes of basic earnings per share 40,788 37,151
Effect of dilutive potential Ordinary shares:    
Share options 427 252
Weighted average number of Ordinary shares for the purpose of diluted earnings per share 41,215 37,403
Basic earnings per share (pence) 0.0 63.4
Diluted earnings per share (pence) 0.0 63.0

Basic net assets per share amounts are calculated by dividing net assets by the number of Ordinary shares in issue at the year end.

Diluted net assets per share amounts are calculated by dividing net assets by the number of Ordinary shares in issue at the year end plus the number of Ordinary shares that would be issued on the conversion of all the dilutive potential Ordinary shares into Ordinary shares.

Net assets per share and diluted net assets per share have been calculated as follows:

  2007  2006 
  Net
assets
£’000
No. of
shares
’000
Net assets
per share
pence
Net
assets
£’000
No. of
shares
’000
Net assets
per share
pence
Basic net assets per share 228,916 40,566 564 231,413 40,712 568
Effect of dilutive potential Ordinary shares 1,875 434 (1) 2,086 547 (3)
Diluted net assets per share 230,791 41,000 563 233,499 41,259 565

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