16. Basic and diluted earnings per share

At the reporting date, the Company did not have any financial instruments that could have a dilutive effect, therefore the diluted earnings per share are equal to basic earnings per share.

for the year ended

31 December 2012 31 December 2011
Net profit for the year 598,298 160,190
Weighted average number of ordinary and preference shares in the period 348,352,836 324,234,858
Earnings per share in PLN (not in thousand) 1.72 0.49