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 2017, 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:


  2017   2016
AED’000   AED’000
 
Profit for the year attributable to equity holders of the parent (AED ‘000) 34,330 40,296
Less: Tier 1 Sukuk paid (22,500) (22,478)
Less: Proposed directors remuneration

(3,090)

(1,976)

8,740

15,842

 
Number of ordinary shares in issue (‘000) 310,050 310,050
Less: Treasury shares (‘000) (9,400) (4,452)
Less: Employees’ share-based payment scheme (‘000) (1,750) (1,750)
298,900
303,848
Earnings per share (AED)

0.03

0.05