Icon Energy Annual Report 2019

Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2019 NOTES 30 June 2019 30 June 2018 $ $ Interest received and other income 2a 732,295 212,789 Administration expenses (1,962,698) (2,513,228) Depreciation and amortisation expense (26,003) (97,981) Employee benefits and expenses (1,067,716) (1,116,137) Occupancy expenses (642,246) (277,286) Loss on sale of current assets 2b (114,296) (954,065) Profit on sale of property, plant & equipment 2c - 2,225,791 Impairment expense 2d (25,909,794) (685,870) Write down of inventories 6 (2,305,425) (760,747) Finance costs (76,615) (70,457) Loss before income tax (31,372,498) (4,037,191) Income tax expense 3 - - Loss for the year from continuing operations (31,372,498) (4,037,191) Other comprehensive income Items that may be reclassified subsequently to profit or loss (307) (120) Total other comprehensive loss for the year, net of tax (307) (120) Total comprehensive loss for the year (31,372,805) (4,037,311) Earnings per share 13 (5.25) (0.68) The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Continuing operations Exchange differences arising on translation of foreign operations Basic and diluted loss per share (cents per share) From continuing operations 45 41 Icon Energy Annual Report 2019