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Annual Results

BGEO Group profits up

20 February 2017 09:15

BGEO Group posts profits of GEL428.6m for 2016 - 37.8% up on last time.

Earnings per share rose to GEL10.41 - up 31.3% y-o-y.

The group said the combined effect of deferred tax adjustments and 'net non-recurring items' resulted in a net benefit of GEL60.5m in 2016, of which a loss of GEL0.8m, a gain of GEL34.6m and a gain of GEL25.5m were reported in 4Q16, 3Q16 and 2Q16, respectively.

Profit excluding the effect of these deferred tax adjustments and 'net non-recurring items' was GEL89.5m in 4Q16 (down 11.3% y-o-y) and GEL368.0m in 2016 (up 13.8% y-o-y).

At 9:15am: (LON:BGEO) BGEO Group share price was -60.5p at 3045.5p

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