Page 41 - Inegrated Annual Report 2020-Eng

CONSOLIDATED STATEMENT OF PROFIT OR LOSS | FOR THE YEAR ENDED 31 DECEMBER 2020

2020 2019
Notes AED ’000
AED ’000
Revenue from contracts with customers 20 3,776,232 2,810,733
Contract costs 21 (3,268,906) (2,536,861)

GROSS PROFIT 507,326 273,872
Share of profit of a joint venture 7 2,987 1,245
General and administrative expenses 22 (131,634) (137,257)
Foreign currency exchange gain/(loss) (21,676) 36,845
Fair value gain (loss) on financial assets
at fair value through profit or loss 9 685 1,097
Finance costs 23 (14,494) (22,316)
Finance income 23 12,871 22,367
Other income, net 24 8,906 15,320

Profit before tax 364,971 191,173

Income tax expense on foreign operations 10 13,215) (10,329)

PROFIT FOR THE YEAR 351,756 180,844

Basic and diluted earnings per share (in AED)
attributable to equity holder of the Company 25 1.41 0.72

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | FOR THE YEAR ENDED 31 DECEMBER 2020

Notes 2020 2019
AED ’000 AED ’000
PROFIT FOR THE YEAR 351,756 180,844

Other comprehensive income (loss)
Items that will not be reclassified
to the consolidated statement of profit or loss

Loss on revaluation of investment in financial assets
carried at fair value through other comprehensive income 8 (5,530) (14,976)

Items that may be subsequently reclassified to
the consolidated statement of profit or loss in subsequent periods:

Exchange differences arising on
translation of foreign operations 2,443 5,592

OTHER COMPREHENSIVE LOSS FOR THE YEAR (3,087) (9,384)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 348,669 171,460

The attached notes 1 to 31 form part of these consolidated financial statements.

2020 Integrated Annual Report 41