Galaxy Co has 200,000 ordinary shares in issue throughout the year ended 31 January 20X1 and reported a profit attributable to ordinary shareholders of 55,000 Euros, so resulting in a basic EPS of 27.5c. Galaxy Co also has convertible loan stock in issue at 31 January 20X1 on which interest of 30,000 Euros was charged in 20X1 . The loan stock is convertible in 20X5 into 120,000 ordinary shares. The company pays tax at 20%. What is the diluted earnings per share for the year ended 31 January 20X1 calculated in accordance with IAS 33 Earnings per Share?

Please select the right answer.

26.5 cents

20.0 cents

26.6 cents

24.7 cents