Group Note 2024 2023 $’000 $’000 Revenue 31 3,271,197 4,941,121 Cost of sales (1,809,260) (3,292,550) Gross profit 1,461,937 1,648,571 Other income 32 272,015 158,237 Administrative expenses (574,748) (581,452) Other operating expenses (473,537) (406,828) Profit from operating activities 685,667 818,528 Finance income 186,637 97,970 Finance costs (559,070) (491,578) Net finance costs 32 (372,433) (393,608) Share of after-tax profit of associates 14,150 3,415 Share of after-tax profit of joint ventures 46,641 44,233 Profit before tax 374,025 472,568 Tax expense 33 (162,061) (123,762) Profit for the year 32 211,964 348,806 Profit attributable to owners of the Company: – Ordinary shareholders 190,849 305,059 – Preference shareholders 10,467 12,254 201,316 317,313 Non-controlling interests 10,648 31,493 Profit for the year 211,964 348,806 Earnings per share – Basic 34 21.3 cents 33.6 cents – Diluted 34 21.3 cents 33.3 cents The accompanying notes form an integral part of these financial statements. CONSOLIDATED STATEMENT OF PROFIT OR LOSS Year ended 31 December 2024 FINANCIALS CITY DEVELOPMENTS LIMITED 92
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