4. Earnings per share

  13 weeks
ended
2 August 2008
13 weeks
ended
4 August2007
26 weeks
ended
2 August2008
26 weeks
ended
4 August2007
Net income ($ million) 19.7 41.0 45.4 74.3
Basic weighted average number of shares in issue (million) 1,703.9 1,702.4 1,703.9 1,703.0
Dilutive effect of share options (million) 5.2 5.9 5.5 6.8
Diluted weighted average number of shares in issue (million) 1,709.1 1,708.4 1,709.4 1,709.8
Earnings per share – basic 1.2c 2.4c 2.7c 4.4c
Earnings per share – diluted 1.2c 2.4c 2.7c 4.4c
Earnings per ADS – basic 11.5c 24.1c 26.6c 43.6c
Earnings per ADS – diluted 11.5c 24.1c 26.6c 43.5c

The basic weighted average number of shares excludes shares held by the ESOT as such shares are not considered outstanding and do not qualify for dividends. The effect of this is to reduce the average number of shares in the 13 and 26 week periods ended 2 August 2008 by 1,674,407 (13 week period ended 4 August 2007: 2,096,971; 26 week period ended 4 August 2007: 2,358,026). The calculation of fully diluted EPS for the 13 and 26 week periods ended 2 August 2008 excludes options to purchase 68,246,484 and 69,293,416 shares respectively (13 week period ended 4 August 2007: 29,828,939 share options; 26 week period ended 4 August 2007: 26,893,687 share options) on the basis that their effect on EPS was anti-dilutive.

Each ADS represents ten ordinary shares.