Earnings per share

6 Months Ended

Jun. 30, 2017

The calculation of basic and diluted earnings per share including a reconciliation of the numerator and denominator is as follows:



	Three months ended			Six months ended
	June 30, 2017		June 30, 2016	June 30, 2017		June 30, 2016

Numerator ($'000)
Net earnings/(losses) from continuing operations	(5,064	)	8,152	(23,076	)	6,784
Net earnings/(losses) from discontinued operations	93		156	128		55
Net losses/(earnings) attributable to non-controlling interests	49		59	(85	)	(40	)

Net earnings/(losses) attributable to Belmond Ltd.	(4,922	)	8,367	(23,033	)	6,799

Denominator (shares '000)
Basic weighted average shares outstanding	102,145		101,534	102,005		101,424
Effect of dilution	—		1,385	—		1,361

Diluted weighted average shares outstanding	102,145		102,919	102,005		102,785

	$		$	$		$
Basic earnings per share
Net earnings/(losses) from continuing operations	(0.050	)	0.080	(0.226	)	0.067
Net earnings/(losses) from discontinued operations	0.001		0.002	0.001		0.001
Net losses/(earnings) attributable to non-controlling interests	—		0.001	(0.001	)	—

Net earnings/(losses) attributable to Belmond Ltd.	(0.049	)	0.083	(0.226	)	0.068

Diluted earnings per share
Net earnings/(losses) from continuing operations	(0.050	)	0.079	(0.226	)	0.066
Net earnings/(losses) from discontinued operations	0.001		0.002	0.001		0.001
Net losses/(earnings) attributable to non-controlling interests	—		0.001	(0.001	)	—

Net earnings/(losses) attributable to Belmond Ltd.	(0.049	)	0.082	(0.226	)	0.067

The total number of share options and share-based awards excluded from computing diluted earnings per share was as follows:

The number of share options and share-based awards unexercised at June 30, 2017 was 3,895,767 (June 30, 2016 - 4,197,980).