Staatsolie Annual Report 2017
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Confidence in Our Own Abilities<br />
36<br />
<strong>Staatsolie</strong> Maatschappij Suriname N.V.<br />
Consolidated statement of profit or loss<br />
for the year ended December 31, <strong>2017</strong> and 2016<br />
(x Us$ 1,000) Notes <strong>2017</strong> 2016<br />
Revenue 3.1 433,678 357,705<br />
Cost of sales (247,229) (251,247)<br />
Gross profit 186,449 106,458<br />
Other income/(expense) 3.2 (23,637) 13,457<br />
Expensed projects (3,205) (2,359)<br />
Exploration expenses (3,192) (6,507)<br />
Selling and distribution expenses 3.2 (19,925) (24,977)<br />
Other operating expenses (12,019) (11,643)<br />
General and administrative expenses 3.2 (27,167) (31,467)<br />
Operating profit 97,304 42,962<br />
Finance income 3.2 2,018 4,840<br />
Finance costs 3.2 (68,777) (65,122)<br />
Share of profit of Suriname Gold Project JV 4.4 63,725 8,114<br />
Profit (loss) before income tax 94,270 (9,206)<br />
Income tax expense 3.3 (33,119) 1,609<br />
Profit (loss) for the year 61,151 (7,597)<br />
Attributable to:<br />
Equity holders of the parent 61,151 (7,597)<br />
61,151 (7,597)<br />
Basic and diluted earnings/(loss) per ordinary<br />
Share (US$ per thousand shares) 3.4 12.23 (1.52)
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