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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Turnover
ps (per share)
This shows
total turnover or operating revenues for each period reported,
divided by the weighted average number of ordinary shares in
issue during that period.
Total turnover,
or operating revenue, used in the calculation excludes VAT,
and is annualised when necessary.
The calculation
is as follows:
TOTAL TURNOVER
(£)
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X 100p = TURNOVER PER SHARE (p)
WEIGHTED
AVERAGE SHARES IN ISSUE
Turnover
per share can be subject to adjustment for a variety of reasons
falling into the following two categories:
share capital changes
which give rise to share price adjustment factors
accounting
periods which are greater or less than 12 months in duration
requiring annualisation.
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