Financial Performance

Summary Income Statement*

For the year ended 31 December (USD)
2016 2017 1H18
Revenue 134,116,116 157,590,031 79,700,571
Cost of revenue -63,273,396 -78,323,457 -40,490,051
Gross profit 70,842,720 79,266,574 39,210,520
General and administrative expenses -14,713,106 -19,032,975 11,737,157
Provision for impairment of trade receivables -2,362,197 -579,115 -13,057,546
Impairment of assets under construction -765,291 0 -290,320
Provisions -2,027,004 -274,647 -1,250,607
Operating profit 50,632,033 58,756,019 36,349,204
Net finance cost/(income) -9,428,294 -9,534,657 -12,352,136
Provision for impairment of dividends receivable - -245,000
Loss on disposal of property and equipment -7,537 -
Other income/(expenses) 100,794 1,066,475 -1108551
Other taxes -241,721 -1573448 -661893
IPO expenses - -5,063,269
Profit for the year before income tax 41,296,996 43,406,020 22,226,624
Income tax expense -3,284,273 1,167,919 -867,641
Profit for the year 38,012,723 44,573,939 21,358,983
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 21,358,983
Earnings per share – basic and diluted (USD per share) 1.19 1.16 0.5

*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.