NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 33 TAX EXPENSE (CONT’D) The Group has applied a temporary mandatory relief from deferred tax accounting for the impact of the top-up tax and accounts for it as a current tax when it is incurred (see note 29). 34 EARNINGS PER SHARE Basic earnings per share Basic earnings per share is calculated based on: Group 2024 2023 $’000 $’000 Profit attributable to owners of the Company 201,316 317,313 Less: Dividends on non-redeemable convertible non-cumulative preference shares (10,467) (12,254) Profit attributable to ordinary shareholders after adjustment for non-redeemable convertible non-cumulative preference dividends 190,849 305,059 Group 2024 2023 Number of shares Number of shares Weighted average number of ordinary shares Weighted average number of ordinary shares during the year 896,873,407 906,901,330 Basic earnings per share 21.3 cents 33.6 cents Diluted earnings per share Diluted earnings per share is calculated based on: Group 2024 2023 $’000 $’000 Profit attributable to ordinary shareholders after adjustment for non-redeemable convertible non-cumulative preference dividends 190,849 305,059 Add: Dividends on non-redeemable convertible non-cumulative preference shares – 12,254 Profit attributable to owners of the Company 190,849 317,313 FINANCIALS CITY DEVELOPMENTS LIMITED 162
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