KUWAIT ENERGY plc GROUP
CONSOLIDATED INCOME STATEMENT
For the year ended 31 December 2013
F-28
2013
2012
(Restated)
(1)
Notes
USD 000’s
USD 000’s
Continuing Operations
Revenue
6
284,392
203,583
Cost of sales
8
(154,984)
(96,711)
Gross profit
129,408
106,872
Net impairment (loss) / reversal
9
(1,801)
540
Exploration expenditure written off
16
(47,822)
(3,680)
General and administrative expenses
(26,261)
(20,791)
Operating profit
53,524
82,941
Gain on held for trading derivative
26
322
266
Fair value loss on convertible loans
23
(12,071)
(4,528)
Other income
10
599
223
Foreign exchange (loss) / gain
(3,762)
320
Finance costs (net)
11
(10,068)
(1,157)
Profit before tax
28,544
78,065
Taxation charge
12
(8,387)
(8,700)
Profit for the year from continuing operations
7
20,157
69,365
Discontinued operations
Loss for the year from discontinued operations
14
(278,787)
(24,401)
(Loss) / profit for the year
(258,630)
44,964
Earnings per share from continuing operations
- Basic (cents)
13
6.2
21.7
- Diluted (cents)
13
6.2
21.7
(Loss) / earnings per share from continuing and discontinued
operations
- Basic (cents)
13
(79.6)
14.1
- Diluted (cents)
13
(79.6)
14.1
(2)
Restated to show separately the results from discontinued operations (see note 14). Equivalent restatements have also
been made to the statements of comprehensive income and cash flow and related supporting notes.
