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7. Earnings per share

  2008 2007
  Earnings £m Weighted average
number of shares
m
Earnings per share pence Earnings £m Weighted
average
number of shares
m
Earnings
per share pence
Continuing operations            
Basic eps (122) 704.7 (17.3) 196 703.4 27.9
Dilutive securities 1.1 2.9 (0.1)
Diluted eps (122) 705.8 (17.3) 196 706.3 27.8
Discontinued operations            
Basic eps 13 704.7 1.8
Dilutive securities 1.1
Diluted eps 13 705.8 1.8

Adjusted earnings per share — continuing operations 

  2008 2007
  £m pence £m pence
Adjusted earnings and adjusted basic earnings per share        
Profit attributable to equity shareholders — continuing operations (122) (17.3) 196 27.9
Adjustments for:        
  Restructuring and impairment charges 153 21.7 31 4.4
  Amortisation of non-operating intangibles on business combinations 10 1.4 8 1.1
  Profits and losses on sale or closures of businesses 7 1.0
  Change in value of derivative and other financial instruments 124 17.6 10 1.4
  Impairment of joint ventures 10 1.4
Taxation on adjustments (7) (1.0) (5) (0.7)
Adjusted earnings attributable to equity shareholders — continuing operations 168 23.8 247 35.1

The Directors consider adjusted earnings per share, as calculated above, gives a useful additional indicator of underlying performance.

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