Basic earnings per share

The calculation of basic earnings per share at 31 March 2013 was based on the profit attributable to ordinary shareholders of £4.71 million (2012: £3.16m) and a weighted average number of ordinary shares outstanding during the year ended 31 March 2013 of 107,324,310 (2012: 91,643,717), calculated as follows:

Weighted average number of ordinary shares

20132012
Issued ordinary shares at 1 April106,867,70885,246,086
Effect of shares issued456,6026,397,631
Weighted average number of ordinary shares at 31 March107,324,31091,643,717

Diluted earnings per share

The calculation of diluted earnings per share at 31 March 2013 was based on profit attributable to ordinary shareholders of £4.71 million (2012: £3.16m) and a weighted average number of ordinary shares outstanding during the year ended 31 March 2013 of 112,586,386 (2012: 97,438,412), calculated as follows:

Weighted average number of ordinary shares (diluted)

20132012
Weighted average number of ordinary shares at 31 March107,324,31091,643,717
Effect of share options on issue5,262,0765,794,695
Weighted average number of ordinary shares (diluted) at 31 March112,586,38697,438,412

The average market value of the Company's shares for the purposes of calculating the dilutive effect of share options was based on quoted market prices for the period that the options were outstanding.

2013
EPS
2012
EPS
EPS (Total)Earnings
£000
BasicDilutedEarnings
£000
BasicDiluted
Profit for the financial year4,7084.39p4.18p3,1623.45p3.25p
Separately disclosed items:
IFRS 2 Share option910.08p0.08p2270.25p0.23p
Intangible amortisation3310.31p0.29p2810.31p0.29p
Acquisition expenses3910.43p0.40p
Restructuring costs/(credits)3890.36p0.35p(656)(0.72p)(0.67p)
Tax (charge)/credit on adjusted items(195)(0.18p)(0.17p)2580.28p0.26p
Adjusted5,3244.96p4.73p3,6634.00p3.76p

The 'Adjusted diluted' earnings per share is detailed in the above tables. In the Directors' opinion, this best reflects the underlying performance of the Group and assists in the comparison with the results of earlier years (see note 2).