28. TAX (CREDIT)/EXPENSE (CONTINUED) With effect from 26 May 2022, the UK government has introduced an Energy Profit Levy (“EPL”) that would apply to the ring fence profits and chargeable at 25%. The EPL was enacted on 14 July 2022, which is post balance sheet date, therefore the Group has not made a provision in the financial statements for the year ended 30 June 2022 for a potential liability for the EPL. Based on the tax provision calculation for the period, the Group is not expected to have a current EPL liability in the period to 30 June 2022. 29. EARNINGS PER ORDINARY SHARE Basic earnings per ordinary share The calculation of basic earnings per ordinary share at 30 June 2022 was based on the profit attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding calculated as follows: Group 1.7.2021 to 30.6.2022 1.1.2020 to 30.6.2021 Profit for the year/period attributable to owners of the Company (RM’000) 549,587 119,976 Weighted average number of ordinary shares (in ’000): At 1 July/1 January 2,724,685 1,758,090 Effect of new ordinary shares issued 382,185 163,380 At 30 June 3,106,870 1,921,470 Basic earnings per ordinary share (sen) 17.68 6.24 Diluted earnings per ordinary share Group 1.7.2021 to 30.6.2022 1.1.2020 to 30.6.2021 Profit for the year/period attributable to owners of the Company for diluted earnings per ordinary share computation (RM’000) 549,587 119,976 Weighted average number of ordinary shares for basic earnings per ordinary share (in ’000) 3,106,870 1,921,470 Shares deemed to be issued for no consideration: – exercise of share options 3,119 595 Weighted average number of ordinary shares for diluted earnings per ordinary share computation 3,109,989 1,922,065 Diluted earnings per ordinary share (sen) 17.67 6.24 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DAGANG NeXCHANGE BERHAD 276
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