The Management of Phoenix Power Company SAOG is pleased to announce the initial unaudited financial results for the year ended 31 December 2015. The Management of Phoenix Power Company SAOG is pleased to disclose the following initial un-audited financial results for the year ended 31 December 2015 and a comparison with the same period of the preceding calendar year.
|
|
Dec-15 |
Dec-14 |
Percentage Change |
|
RO’000 |
RO’000 |
||
|
Unaudited |
Audited |
||
|
Revenues |
101,866 |
2,274 |
4380% |
|
Direct costs |
(65,103) |
(2,272) |
2765% |
|
Gross profit |
36,763 |
2 |
1838050% |
|
Other income |
23,511 |
22,298 |
5% |
|
General and administrative expenses |
(2,043) |
(317) |
544% |
|
Finance costs |
(23,057) |
(1,248) |
1748% |
|
Profit before tax |
35,174 |
20,735 |
70% |
|
Tax expense |
(6,400) |
(9,423) |
(32%) |
|
Net Profit |
28,774 |
11,312 |
154% |
The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
* Important note: for purposes of comparison, the Company advises that it started its operations in December 2014; therefore the operational revenue or cost for the same period is not comparable.