NIG Prospectus - London Stock Exchange

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Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10a : 3776 Section 10aConsolidated statement of changes in equityEquity attributable to shareholders of the parent company11112111111311112111121111211112111121111211112CumulativeShare Treasury Reserves changes in Retained Sub- Minoritycapital 11112 shares 11112 (Note 8) 11112 fair value 11112 earnings 11112 Total 11112 interest 11112 Total11112KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000Balance at 1 January 2007 .............................................................. 107,033 11112 (56,378) 11112 264,315 11112 146,409 11112 260,404 11112 721,783 11112 111,057 11112 832,84011112Changes in fair value of available for sale investments...................... – – – 19,163 – 19,163 5,406 24,569Share of fair value adjustment in associates...................................... – – – 2,716 – 2,716 – 2,716Realised on sale of available for sale investments ............................ – – – (30,696) – (30,696) – (30,696)Transfer of excess depreciation.......................................................... – – (118) – 118 – – –Profit on disposal of treasury shares.................................................. – – 1,790 – – 1,790 – 1,790Currency translation differences ........................................................ – 11112 – 11112 (10) 11112 – 11112 – 11112 (10) 11112 – 11112 (10)11112Net income/(expense) recognised directly in equity .......................... – – 1,662 (8,817) 118 (7,037) 5,406 (1,631)Net profit for the period .................................................................... – 11112 – 11112 – 11112 – 11112 59,788 11112 59,788 11112 5,437 11112 65,22511112Total recognised income/(expense) for the period ...................... – – 1,662 (8,817) 59,906 52,751 10,843 63,59411112 11112 11112 11112 11112 11112 11112 11112Purchase of treasury shares .............................................................. – (982) – – – (982) – (982)Disposal of treasury shares................................................................ – 11,391 – – – 11,391 – 11,391Issue of shares to staff by utilizing treasury shares .......................... – 757 – – – 757 – 757Dividend paid to minority by the subsidiary ...................................... – – – – – – (11,064) (11,064)Investment made by minority shareholders ...................................... – – – – – – 60 6011112 11112 11112 11112 11112 11112 11112 11112– 11,166 – – – 11,166 (11,004) 16211112 11112 11112 11112 11112 11112 11112 11112Balance at 31 March 2007................................................................ 107,033 (45,212) 265,977 137,592 320,310 785,700 110,896 896,59611112 11112 11112 11112 11112 11112 11112 11112Balance at 1 January 2006 .............................................................. 74,674 (16,800) 115,639 202,342 247,777 623,632 49,878 673,51011112 11112 11112 11112 11112 11112 11112 11112Changes in fair value of available for sale investments...................... – – – (14,876) – (14,876) (1,487) (16,363)Realised on partial disposal of associate............................................ – – – (141) – (141) – (141)Share of fair value adjustment in associates...................................... – – – 13,906 (2,583) 11,323 – 11,323Realised on sale of available for sale investments ............................ – – – (14,502) – (14,502) (5,696) (20,198)Transfer of excess depreciation.......................................................... – – (2) – 2 – – –Currency translation differences ........................................................ – – (41) – – (41) 1 (40)11112 11112 11112 11112 11112 11112 11112 11112Net expense recognised directly in equity ........................................ – (43) (15,613) (2,581) (18,237) (7,182) (25,419)Net profit/(loss) for the period ............................................................ – – – – 28,560 28,560 (1,106) 27,45411112 11112 11112 11112 11112 11112 11112 11112Total recognised income/(expense) for the period ...................... – – (43) (15,613) 25,979 10,323 (8,288) 2,03511112 11112 11112 11112 11112 11112 11112 11112Purchase of treasury shares .............................................................. – (24,168) – – – (24,168) – (24,168)Transfer on partial disposal of subsidiary .......................................... – – (150) – 150 – 17,834 17,834Dividend paid to minority by the subsidiary ...................................... – – – – – – (1,683) (1,683)Investment made by minority shareholders ...................................... – – – – – – 11,236 11,236Share issue expenses incurred by subsidiary on increase of capital – – – – (310) (310) (110) (420)11112 11112 11112 11112 11112 11112 11112 11112– (24,168) (150) – (160) (24,478) 27,277 2,79911112 11112 11112 11112 11112 11112 11112 11112Balance at 31 March 2006................................................................ 74,674 (40,968) 115,446 186,729 273,596 609,477 68,867 678,34411112 11112 11112 11112 11112 11112 11112 11112The notes set out on pages 8 to 13 form an integral part of this interim consolidated financial information.F-5
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10a : 3776 Section 10aConsolidated statement of cash flowsThree Threemonths monthsended 31 ended 31March March2007 2006(Unaudited) (Unaudited)11111 11111KD ‘000 KD ‘000OPERATING ACTIVITIESProfit for the period .................................................................................. 67,427 29,649Adjustments for:Depreciation of property, plant and equipment ...................................... 1,185 908Profit on disposal of property, plant and equipment .............................. (108) –Impairment in value of goodwill.............................................................. 1,250 –Share of profits of associates ................................................................ (3,450) (3,240)Dividend income from available for sale investments ............................ (1,377) (656)Profit on partial disposal of associate .................................................... – (559)Profit on sale of available for sale investments ...................................... (25,913) (20,402)Profit on partial disposal of subsidiaries ................................................ – (30,226)Net provisions (released)/charged .......................................................... (22) 277Finance costs .......................................................................................... 10,213 6,074Interest income ...................................................................................... (3,880) (474)11111 11111Operating profit/(loss) before changes in operating assets and liabilities .. 45,325 (18,649)Changes in operating assets and liabilities:Inventories ............................................................................................ (326) 1,189Accounts receivable and other assets .................................................... (2,764) 48,327Investments at fair value through statement of income ........................ (103,951) 7,732Accounts payable and other liabilities .................................................... 2,429 5,52811111 11111Cash (used in)/from operations .................................................................. (59,287) 44,127Taxation paid .............................................................................................. (101) (11)KFAS contribution paid................................................................................ (1,607) –National Labour Support Tax paid................................................................ (4,299) –11111 11111Net cash (used in)/from operating activities ........................................ (65,294) 44,11611111 11111F-6
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NIG Prospectus - London Stock Exchange

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