Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 108 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 10. EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit after taxation attributable to owners of the Company by the weighted average number of ordinary shares in issue during the financial year. The Group 2023 2022 Profit after taxation attributable to owners of the Company (RM) 111,950,507 123,291,868 Weighted average number of ordinary shares in issue as of 1 January/31 December 1,572,906,425 1,571,899,466 Basic earnings per ordinary share attributable to equity holders of the Company (sen) 7.12 7.84 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 and hence, the diluted earnings per share is equal to the basic earnings per share.
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