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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED INCOME STATEMENT
Six months ended 30 June 2015
5
Six months ended 30 June
Year ended
2015
Unaudited
2014
Unaudited
(Restated see
note 17)
31 December
2014
Audited
Notes USD 000’s USD 000’s
USD 000’s
Continuing Operations
Revenue
89,103
131,004
270,759
Cost of sales
(73,517)
(53,803)
(140,504)
Gross profit
15,586
77,201
130,255
Exploration expenditure written off
7
(2,519)
-
(1,513)
Impairment of oil and gas assets
8
-
-
(19,247)
General and administrative expenses
(9,170)
(11,883)
(32,669)
Operating profit
3,897
65,318
76,826
Share of results of Joint Venture
9
1,731
2,571
1,040
Fair value loss on convertible loans
13
(8,730)
(6,712)
(9,931)
Other income
818
269
653
Foreign exchange loss
(1,663)
(41)
(273)
Finance costs
(4,750)
(3,552)
(12,773)
(Loss)/profit before tax
(8,697)
57,853
55,542
Taxation charge
4
(1,168)
(5,455)
(8,800)
(Loss)/profit for the period from continuing
operations
(9,865)
52,398
46,742
Discontinued operations
Loss for the period from discontinued operations
5
-
(2,600)
(4,039)
(Loss)/profit for the period
(9,865)
49,798
42,703
Attributable to:
Owners of the Company
(9,863)
49,798
42,711
Non-controlling interests
(2)
-
(8)
(9,865)
49,798
42,703
Earnings/(loss) per share from continuing operations
attributable to owners of the Company
-
Basic (cents)
6
(3.0)
16.0
14.2
-
Diluted (cents)
6
(3.0)
16.0
14.2
Earnings/(loss) per share from continuing and
discontinued operations attributable to owners of the
Company
-
Basic (cents)
6
(3.0)
15.2
13.0
-
Diluted (cents)
6
(3.0)
15.2
13.0