REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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Normalised
EPS (Normalised earnings per share)
Earnings
are based on estimated future results when available, in which
case the forecasts are apportioned to give a rolling 12 months-ahead
view, and the suffix ‘pr’ is used to indicate prospective. Otherwise
reported historic results are used, adjusted to a ‘normalised’
basis.
When the
EPS is historic, the result is initially calculated by dividing
earnings by the weighted average number of shares in issue during
the year.
Historic EPS
Forecast EPS
Rolling 12 months-ahead EPS
Adjustments
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