12. Earnings / (Losses) per share

Basic earnings / (losses) per share is calculated by dividing the profit / (loss) for the financial year by the weighted average number of Ordinary Shares in issue during the period.

The profits / (losses) and weighted average number of shares used in the calculations are set out below:

2009 2008
Earnings / losses per Ordinary Share
Profit / (loss) for the financial year (£000) 5,322 (5,861)
Weighted average number of Ordinary Shares (basic) (thousands) 57,630 55,130
Effect of dilutive potential Ordinary Shares 1 205 –
Weighted average number of Ordinary Shares for the purposes of diluted earnings / (losses) per share (thousands) 57,835 55,130
Earnings / (losses) per Ordinary Share basic (pence) 9.23 (10.63)
Earnings / (losses) per Ordinary Share diluted (pence) 9.20 (10.63)

1 Prior year Diluted EPS is the same as EPS as the Group was loss making for the period.