KUWAIT ENERGY plc GROUP
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Three months ended 31 March 2014
F-14
3.
SEGMENTAL INFORMATION (CONTINUED)
Egypt
Yemen
Iraq
Others
Total
USD 000’s USD 000’s USD 000’s USD 000’s USD 000’s
(Restated)
31 December 2013
Segment revenues
193,487
69,007
-
-
262,494
Segment results
112,658
4,048
(146)
(64,869)
51,691
Share of results of joint venture
-
-
-
1,543
1,543
Gain on held for trading derivative
322
Fair value loss on convertible loans
(12,071)
Other income
599
Foreign exchange loss
(3,762)
Finance costs
(10,068)
Profit before tax
28,254
Taxation
(8,097)
Profit for the year from continuing
operations
20,157
Loss from discontinued operations
(278,787)
Loss for the year
(258,630)
Segment assets
480,790
179,827
94,494
175,740
930,851
E&E assets
119,094
49,029
27,329
-
195,452
PP&E
186,537
103,624
57,411
3,904
351,476
Segment liabilities
45,770
13,523
30,183
331,382
420,858
Other information
Additions to E&E
18,297
9,584
27,329
23,718
78,928
Additions to PP&E
39,969
5,822
33,704
32,526
112,021
Depreciation, Depletion and
Amortisation
46,689
34,353
-
1,615
82,657
4.
INCOME TAX EXPENSE
3 Months
ended
31.03.14
Unaudited
3 Months
ended
31.03.13
Unaudited
Year ended
31.12.13
Audited
(Restated)
Tax on profit on ordinary activities
USD 000’s
USD 000’s
USD 000’s
Current tax:
Corporation tax
2,100
2,032
8,097
Tax charge on profit on ordinary activities
2,100
2,032
8,097
5.
DISCONTINUED OPERATIONS
During 2013 the management of the Group resolved to dispose of the Group’s Russia and Ukraine operations as a
part of its strategy to focus on Middle East and North Africa (MENA) region operations and negotiations with
