NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10c : 3776 Section 10c34 Analysis of consolidated income statementThe consolidated statement of income is analysed between continuing and discontinuingoperations as follows:Restated200511111111111111111111200411111111111111111111Continuing Discontinued Continuing Discontinuedoperations11111operations11111Total11111operations11111operations11111Total11111KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000 KD ‘000Sales.......................................... 100,909 3,831 104,740 99,402 7,585 106,987Cost of sales.............................. (78,366)11111(3,819)11111(82,185)11111(81,430)11111(7,405)11111(88,835)11111Gross profit .............................. 22,543 12 22,555 17,972 180 18,152Income from investments ........ 173,009 – 173,009 52,199 1,818 54,017Share of profits of associatesand joint ventures...................... 15,193 – 15,193 5,152 – 5,152Profit on disposal of investmentproperties .................................. – – – 161 – 161Change in fair value ofinvestment properties .............. – – – 1,544 – 1,544Other operating income ............ 412 – 412 285 (22) 263Distribution costs ...................... (6,878) (136) (7,014) (6,536) (420) (6,956)General, administrative andother expenses.......................... (22,067)11111(39)11111(22,106)11111(12,595)11111(568)11111(13,163)11111Profit from operations ............ 182,212 (163) 182,049 58,182 988 59,170Profit on partial disposal ofassociates.................................. 72,124 – 72,124 5,187 – 5,187Net profit/(loss) on disposal ofsubsidiaries/businesses ............ 24 (2,381) (2,357) 560 – 560Finance costs ............................ (18,735) – (18,735) (10,146) (47) (10,193)Impairment in value of property,plant and equipment.................. (1,709) – (1,709) – – –Loss on revaluation of freeholdproperty .................................... – – – (307) – (307)Amortisation of goodwill .......... – – – (2,174) – (2,174)Impairment in value of goodwill (13,013) (73) (13,086) (2,307) (115) (2,422)(Loss)/gain on foreign exchange (1,865) – (1,865) 921 – 921Provision for onerous propertyleases and dilapidations ............ (2,129) – (2,129) (1,345) – (1,345)Provision for doubtful debts ...... (2,295) – (2,295) (1,262) – (1,262)Product development costswritten off .................................. (183) – (183) (629) – (629)Reorganisation, redundancy,guarantee and other costs ........ (3,678)11111–11111(3,678)11111(966)11111–11111(966)11111Profit for the year .................... 210,753 (2,617) 208,136 45,714 826 46,54011111 11111 11111 11111 11111 11111Discontinued operations disclosed in 2005 relate to the disposal of Blanson Trading Division, PerryBaromedical Inc. and Newage Transmission limited.The 2004 discontinued operations relate to Blanson trading Division, Perry Baromedical Inc.,Newage Transmission Limited and Kuwait Privatization Project Holding Company – KSC (Closed).F-80