Financial Performance

Summary Income Statement*

For the year ended 31 December (USD)
2016 2017 2018
Revenue 134,116,116 157,590,031 205,563,390
Cost of revenue (63,273,396) (78,323,458) (107,506,253)
Gross profit 70,842,720 79,266,573 98,057,137
General and administrative expenses (14,713,106) (19,032,975) (23,971,369)
End of service provision - (623,817) (1,309,036)
Provision for impairment of trade receivables (2,362,197) (579,115) (1,250,607)
Provisions (2,027,004) (274,647) (280,017)
Operating profit 50,632,033 58,756,019 71,246,108
Net finance cost/(income) (9,428,294) (9,534,657) (28,733,675)
Provision for impairment of dividends receivable - (245,000) -
Bargain purchase gain - - 44,377,441
Business acquisition transaction costs - - (5,617,088)
Other income/(expenses) 100,794 1,066,475 (1,602,982)
Other taxes (241,721) (387,648) (295,960)
IPO expenses - (5,063,269) -
Fair value loss on derivative financial instrument - - (4,340,180)
Profit for the year before income tax 41,296,996 44,591,820 75,033,664
Income tax expense (3,284,273) (17,881) (3,788,784)
Profit for the year 38,012,723 44,573,939 71,244,880
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 38,012,723 44,573,939 71,244,880
Earnings per share – basic and diluted (USD per share) 1.19 1.16 1.65

*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.