AFI Development PLC Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2017
AFI Development PLC reported consolidated earnings results for the first quarter ended March 31, 2017. For the period, the company has posted revenue of $47,498,000 against $27,365,000 a year ago. Loss from operating activities was $19,995,000 compared to $45,220,000 a year ago. Loss before tax was $7,388,000 compared to $34,694,000 a year ago. Profit for the period was $1,031,000 compared to loss of $31,861,000 a year ago. Profit attributable to owners of the company was $1,091,000 compared to loss attributable to owners of the company of $31,787,000 a year ago. Basic and diluted earnings per share were 0.10 cent compared to loss of 3.03 cent a year ago. Net cash from operating activities was $19,041,000 against $11,956,000 a year ago. Payments for construction of investment property under development were $796,000 against $339,000 a year ago. Payments for the acquisition/renovation of investment property Change in VAT recoverable were 614,000 against $63,000 a year ago. Acquisition of property, plant and equipment was $11,000 against $150,000 a year ago.