Financial Performance

Summary Income Statement*

2018 (restated)** 2019 2020
Revenue 205,563,390 477,757,547 452,108,570
Cost of revenue -107,593,582 -285,728,112 -282,344,173
Gross profit 97,969,808 192,029,435 169,764,397
General and administrative expenses -23,971,369 -52,463,669 -47,395,777
End of service provision -1,309,036 -4,899,967 -5,348,358
Provision for impairment of non-current assets - - -5,100,062
Provision for impairment of trade receivables -1,250,607 2,776,252 -2,558,649
Provision for impairment of inventory - -253,329 -686,478
Share-based payments expense - -11,341,219 -3,845,870
Provisions -280,017 -1,443,181 -410,669
Operating profit 71,158,779 124,404,322 104,418,534
Net finance cost/(income) -28,494,768 -88,190,066 -64,416,759
Provision for impairment of dividends receivable - - -
Bargain purchase gain 46,252,908 11,877,674 -
Provision for impairment of investment - - -535,000
Business acquisition transaction costs -5,617,088 -6,432,718 -
Other income/(expenses) -1,602,982 -1,120,703 -6,808,333
Other taxes -295,960 -438,716 -512,159
IPO expenses - - -
Fair value loss on derivative financial instrument -4,340,180 771,134 -1,178,052
Profit for the year before income tax 77,060,709 40,870,927 30,968,231
Income tax expense -3,788,784 -9,337,365 -8,946,717
Profit for the year 73,271,925 31,533,562 22,021,514
Other comprehensive income
Other comprehensive income to be reclassified - - -
to profit or loss in subsequent periods
Other comprehensive income not to be reclassified - - -
to profit or loss in subsequent periods
Total comprehensive income 73,271,925 31,533,562 22,021,514
Earnings per share – basic and diluted (USD per share) 1.69 0.65 0.46

*The Financial Information represented of the Group is a continuation of the existing business and reflects the carrying values of the Subsidiary as if the Subsidiary had always been consolidated from the earliest period presented even though the Company was not in existence before 22 May 2016. Any difference between the consideration paid and nominal value of the share capital of the Subsidiary is recorded as a merger reserve.

**Comparative information has been adjusted to reflect the IFRS 3 Business combination measurement period adjustments, refer to note 4 of the 2019 Annual Report and note 3 of the 2020 Half-year Report.