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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED INCOME STATEMENT
For the three month period ended 31 March 2017
2
Three month period ended
31 March
Year ended
31 December
2017
2016
2016
Unreviewed
Unreviewed
Audited
Notes
US$ 000’s
US$ 000’s
US$ 000’s
Continuing Operations
Revenue
46,333
32,395
138,895
Cost of sales
(22,658)
(33,217)
(106,556)
Gross profit/(loss)
23,675
(822)
32,339
Impairment of oil and gas assets
7
-
-
(94,337)
General and administrative expenses
(3,866)
(3,281)
(18,970)
Operating profit/(loss)
19,809
(4,103)
(80,968)
Share of results of joint venture
450
480
1,451
Change in fair value of convertible loans
(3,324)
(3,565)
(24,774)
Other income
149
410
1,335
Foreign exchange gain/(loss)
244
(63)
(2,340)
Finance costs
(3,364)
(2,667)
(9,365)
Profit/(loss) before tax
13,964
(9,508)
(114,661)
Taxation charge
4
(2,328)
(910)
(1,456)
Profit/(loss) for the period
11,636
(10,418)
(116,117)
Attributable to:
Owners of the Company
11,636
(10,418)
(116,145)
Non-controlling interests
-
-
28
11,636
(10,418)
(116,117)
Earnings/(loss) per share attributable to owners of the Company
-
Basic (cents)
5
3.6
(3.2)
(35.6)
-
Diluted (cents)
5
3.6
(3.2)
(35.6)