AFI Development PLC reported audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenue of $138,296,000 against $93,726,000 a year ago. Loss from operating activities was $71,891,000 against $404,888,000 a year ago. Loss before tax was $50,697,000 against $557,188,000 a year ago. Loss attributable to owners of the company was $47,872,000 against $464,087,000 a year ago. Basic and diluted loss per share was $4.57 against $44.30 a year ago. Net cash from operating activities was $35,185,000 against $34,374,000 a year ago. Acquisition of property, plant and equipment was $262,000 against $56,000 a year ago. The increase in net cash is attributable to the fact that sales of residential units in Odinburg, nominated in Russian rouble, created higher USD positive cash flow due to rouble appreciation. The Group has recognized a net loss after tax, driven by a decrease in the value of Group's property assets by $123 million and the continuous decline of cash and cash equivalents and marketable securities down to $16.7 million.