16 Basic and diluted earnings/(loss) per share

Earnings/(loss) per share is calculated by dividing the net profit/(loss) for the year by the weighted average number of shares outstanding during the year. Diluted earnings/(loss) per share is determined by adjusting the net profit/(loss) and the weighted average number of shares outstanding, for the effects of all dilutive potential ordinary shares. As at 31 December 2023, the Group has not issued any instruments which dilutive impact on earnings/(loss) per share would have when converted or exercised.

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

	2023		2022
	AED’000		AED’000
Profit for the year attributable to
equity holders of the parent	35,984		1,916
Less: Tier 1 Sukuk coupon paid	(17,024)		(16,907)
Less: Proposed directors’ remuneration	(3,598)		(2,048)
	15,362		(17,039)
Number of ordinary shares in issue (thousands)	302,838		302,838
Less: Treasury shares (thousands)	(28,569)		(20,157)
Less: Employees’ share-based payment scheme (thousands)	(1,750)		(1,750)
Weighted average number of shares (thousands)	272,519		280,931
Earnings per share (AED)	0.06		(0.06)