26 Basic and diluted earnings per share

Basic and diluted earnings per share

Earnings per share is calculated by dividing the profit for the year by the weighted average number of shares outstanding during the year. Diluted earnings per share is determined by adjusting the profit and the weighted average number of shares outstanding, adjusted for the effects of all dilutive potential ordinary shares. As of 31 December 2018, the Company has not issued any instruments which would have a dilutive impact on earnings per share when converted or exercised.

 

 


The calculation of basic and diluted earnings per share is based on the following data:

  2018   2017
  AED’000   AED’000
       
Profit for the year attributable to equity holders of the parent (AED ‘000) 11,825   34,330
Less: Tier 1 Sukuk paid (22,500)   (22,500)
Less: Proposed directors remuneration

(1,064)

 

(3,090)

 

(11,739)

 

8,740

       
Number of ordinary shares in issue (‘000) 310,050   310,050
Less: Treasury shares (‘000) (9,400)   (9,400)
Less: Employees’ share-based payment scheme (‘000)

(1,750)

 

(1,750)

 

298,900

 

298,900

Earnings per share (AED)

(0.04)

 

0.03