TOWARDS GROWTH AND PROSPERITY - WOQOD

CONSOLIDATED STATEMENT OF INCOMEFor The Year Ended December 31, 2007CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFor The Year Ended December 31, 2007Year Ended December 31,Note 2007 2006QR.QR.Sales 16 4,715,546,339 3,492,474,819Cost of sales (3,927,755,108) (2,929,085,870)AttributableShare Legal General Fair Value Proposed Retained to Equity MinorityCapital Reserve Reserve Reserve Dividends Earnings Holders of InterestTotalthe ParentQR. QR. QR. QR. QR. QR. QR. QR. QR.Gross Profit 787,791,231 563,388,949Depreciation of property, plant and equipment (27,752,626) (23,308,463)General and administrative expenses 17 (182,255,177) (122,001,815)Bank charges (154,336) (60,328)Other income 18 55,222,608 29,209,921Profit for the Year 632,851,700 447,228,264Attributable to:Equity holders of the parent 616,263,973 430,663,857Minority interest 16,587,727 16,564,407Total 632,851,700 447,228,264Basic earnings per share 20.54 14.36Number of shares 30,000,000 30,000,000Balance – January 1, 2006 300,000,000 38,499,867 30,078,234 248,298,400 90,000,000 136,498,806 843,375,307 30,721,717 874,097,024Net profit for the year -- -- -- -- -- 430,663,857 430,663,857 16,564,407 447,228,264Legal reserve -- 43,066,386 -- -- -- (43,066,386) -- -- --Dividend paid -- -- -- -- (90,000,000) -- (90,000,000) -- (90,000,000)Dividend paid tominority shareholders-- -- -- -- -- -- -- (11,700,000) (11,700,000)Proposed dividend -- -- -- -- 150,000,000(150,000,000) -- -- --Movement in fair value -- -- -- (202,658,400) -- -- (202,658,400) -- (202,658,400)Balance – December 31, 2006 300,000,000 81,566,253 30,078,234 45,640,000 150,000,000 374,096,277 981,380,764 35,586,124 1,016,966,888Net profit for the year -- -- -- -- -- 616,263,973 616,263,973 16,587,727 632,851,700Legal reserve -- 61,626,397 -- -- -- (61,626,397) -- -- --Prior year adjustment -- (3,914,477) -- -- -- (15,585,523) -- -- (19,500,000)Dividend paid -- -- -- -- (150,000,000) -- (150,000,000) -- (150,000,000)Dividend paid to minorityshareholders-- -- -- -- -- -- -- (13,000,000) (13,000,000)Movement in fair value -- -- -- 71,680,000 -- -- 71,680,000 -- 71,680,000Proposed dividend -- -- -- -- -- -- -- -- --Balance – December 31, 2007 300,000,000 139,278,173 30,078,234 117,320,000 -- 913,148,3301,499,824,737 39,173,851 1,538,998,588The accompanying notes form an integral part of these financial statements.The accompanying notes are an integral part of these financial statements.24