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KUWAIT ENERGY PLC
CONSOLIDATED INCOME STATEMENT
For the year ended 31 December 2015
4
Year ended
2015
Year ended
2014
Notes
USD
000’s
USD 000’s
Continuing Operations
Revenue
6
155,642
270,759
Cost of sales
7
(129,087)
(140,504)
Gross profit
26,555
130,255
Exploration expenditure written off
13
(14,218)
(1,513)
Impairment of oil and gas assets
14
(69,010)
(19,247)
Profit on farm-out of working interest
14
33,876
-
General and administrative expenses
8
(18,221)
(32,669)
Operating (loss)/profit
(41,018)
76,826
Share of results of Joint Venture
15
445
1,040
Fair value loss on convertible loans
23
(9,261)
(9,931)
Other income
1,231
653
Foreign exchange loss
(1,851)
(273)
Finance costs
9
(9,654)
(12,773)
(Loss)/profit before tax
(60,108)
55,542
Taxation charge
10
(2,259)
(8,800)
(Loss)/profit for the year from continuing operations
(62,367)
46,742
Discontinued operations
Loss for the year from discontinued operations
11
-
(4,039)
(Loss)/profit for the year
(62,367)
42,703
Attributable to:
Owners of the Company
(62,220)
42,711
Non-controlling interests
(147)
(8)
(62,367)
42,703
(Loss)/earnings per share attributable to owners of the Company
From continuing operations
-
Basic (cents)
12
(19.1)
14.2
-
Diluted (cents)
12
(19.1)
14.2
From continuing and discontinued operations
-
Basic (cents)
12
(19.1)
13.0
-
Diluted (cents)
12
(19.1)
13.0
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