On 1 January 20X8 a company with no subsidiaries had 3 million equity shares of £1 each in issue. On 1 May 20X8 the company made an issue of 1 million shares at full market price of £2 per share. On 30 September 20X9 the company made a 2 for 5 bonus issue.

The post-tax earnings of the company for the years ended 31 December 20X8 and 2009 were £750,000 and £1,200,000 respectively. LO5 Calculate the EPS for the years ended 31 December 20X8 and 20X9, showing (where possible) comparatives for reporting purposes.