Dagang NeXchange Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DAGANG NeXCHANGE BERHAD 162 27. EARNINGS PER ORDINARY SHARE Basic earnings per ordinary share The calculation of basic earnings per ordinary share at 31 December 2019 was based on the profit attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding calculated as follows: Group 2019 2018 Profit for the year attributable to owners of the Company (RM’000) 30,037 35,345 Group 2019 2018 Weighted average number of ordinary shares (in’000): Ordinary shares at 1 January 1,758,035 1,755,372 Effect of new ordinary shares issued 6 1,954 1,758,041 1,757,326 Basic earnings per ordinary share (sen) 1.71 2.01 Diluted earnings per ordinary share Group 2019 2018 Profit for the year attributable to owners of the Company for diluted earnings per ordinary share computation (RM’000) 30,037 35,345 Weighted average number of ordinary shares for basic earnings per ordinary share (in’000) 1,758,041 1,757,326 Shares deemed to be issued for no consideration: - exercise of Warrants* - - - exercise of share options 1,197 15,080 Weighted average number of ordinary shares for diluted earnings per ordinary share computation 1,759,238 1,772,406 Diluted earnings per ordinary share (sen) 1.70 1.99 * The potential conversion of Warrants is anti-dilutive as its exercise price is higher than the average market price of the Company’s ordinary shares during the current financial year. Accordingly, the exercise of Warrants has been ignored in the calculation of dilutive earnings per ordinary share.