11 (Loss)/earnings per share

(a) Basic

Basic (loss)/earnings per share is calculated by dividing the (loss)/profit for the year by the weighted average number of ordinary shares in issue during the year.

	2018			2017		2016
Class A ordinary shares (thousands)		40,195			40,025		39,890
Class B ordinary shares (thousands)		124,000			124,000		124,000

		164,195			164,025		163,890

(Loss)/profit attributable to owners of the parent (£'000)		(37,270	)		39,177		36,371
Basic (loss)/earnings per share (pence)		(22.70	)		23.88		22.19

(b) Diluted

Diluted (loss)/earnings per share is calculated by adjusting the weighted average number of ordinary shares in issue during the year to assume conversion of all dilutive potential ordinary shares. The Company has one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the "Equity Plan"). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year.

	2018			2017		2016
Class A ordinary shares (thousands)		40,195			40,025		39,890
Adjustment for assumed conversion into Class A ordinary shares (thousands)		415			468		429
Class B ordinary shares (thousands)		124,000			124,000		124,000

		164,610			164,493		164,319

(Loss)/profit attributable to owners of the parent (£'000)		(37,270	)		39,177		36,371
Diluted (loss)/earnings per share (pence)(1)		(22.70	)		23.82		22.13


(1)	For the year ended 30 June 2018, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded. For the years ended 30 June 2017 and 2016, potential ordinary shares have been treated as dilutive, as their inclusion in the diluted earnings per share calculation decreases earnings per share.