Notes to the financial statements

15. Earnings per Share

Earnings per share for each period are calculated by dividing the profit from continuing operations for a given period by the weighted average number of shares in the period.

  Year ended
Dec 31 2010
Year ended
Dec 31 2009
Profit from continuing operations attributable to owners of the parent (PLN '000) (A) 679,180 900,761
Weighted average number of shares (in thousands) (B) 129,873 121,144 (1)
Earnings per share (PLN) (A/B) 5.23 7.44

(1) Earnings per share were computed on the basis of the weighted average number of shares in the period January 1st – December 31st 2009. In connection with the registration of a share capital increase at Grupa LOTOS S.A. on July 17th 2009, the weighted average number of shares includes new Series C shares issued as part of the new issue (see Note 32). 

The Group does not present diluted earnings per share, since it has no instruments with a potential dilutive effect.

This is a translation of a document originally issued in Polish
The notes to the financial statements, presented on following pages, are their integral part.