Notes to the Financial Statements continued for the year ended 31 May 2022
11 Earnings per ordinary share Earnings per ordinary share are shown on a statutory and an adjusted basis to assist in the understanding of the performance of the Group.
2022 £m
2021 £m
23.0
Statutory earnings (A)
10.0
Number of shares m
Number of shares m
309.5
Basic weighted average number of shares in issue (C)
281.2
1.4
Dilutive effect of share options
1.5
310.9
Diluted weighted average shares in issue (D)
282.7
For the purposes of calculating the dilutive effect of share options, the average market value is based on quoted market prices for the period during which the options are outstanding.
2022 Pence
2021 Pence
Earnings per ordinary share Basic (A/C)
7.4 7.4
3.6 3.5
Diluted (A/D)
Adjusted basic EPS 1 is reconciled as follows:
2022 £m
2021 £m
Statutory earnings (A)
23.0
10.0
8.6 3.9 0.9
Amortisation of acquired intangibles
6.4 2.8
Share-based payments
Individually Significant Items (see Note 5)
12.7
(2.9)
Tax effect of above items
(5.1)
Adjusted earnings (B)
33.5
26.8
2022 Pence
2021 Pence
Adjusted earnings per ordinary share Basic (B/C)
10.8 10.8
9.5 9.5
Diluted (B/D)
174
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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