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Consolidated statements of profit and loss
For the years ended December 31, 2008, 2007 and 2006
| Notes | 2008 | 2007(i) | 2006(i) | |
| US$ '000 | US$ '000 | US$ '000 | ||
| Revenues | 9 | 3,412,380 | 2,623,854 | 1,570,086 |
| Cost of sales | (1,255,077) | (973,560) | (609,888) | |
| Gross profit | 2,157,303 | 1,650,294 | 960,198 | |
| Sales and marketing | (690,698) | (486,779) | (245,826) | |
| General and administrative expenses | (537,884) | (418,863) | (240,936) | |
| Other operating expenses | (61,438) | (72,949) | (37,613) | |
| Other operating income | – | – | 4,036 | |
| Gain from sale of subsidiaries and joint ventures, net | 5 | – | – | 8,099 |
| Operating profit | 9,10 | 867,283 | 671,703 | 447,958 |
| Interest expense | (149,111) | (190,410) | (120,510) | |
| Interest and other financial income | 32,922 | 56,378 | 36,383 | |
| Other non operating (expenses) income, net | 12 | (55,593) | 10,213 | (1,145) |
| Profit from associates | 17 | 8,706 | 4,400 | 1,483 |
| Profit before tax from continuing operations | 704,207 | 552,284 | 364,169 | |
| Charge for taxes | 13 | (277,369) | (87,198) | (117,587) |
| Profit for the year from continuing operations | 426,838 | 465,086 | 246,582 | |
| (Loss)/profit for the year from discontinued operations, net of tax | 6 | (22,397) | 245,898 | (86,599) |
| Net profit for the year | 404,441 | 710,984 | 159,983 | |
| Attributable to: | ||||
| Equity holders of the company | 517,516 | 697,142 | 168,947 | |
| Minority interest | (113,075) | 13,842 | (8,964) | |
| 404,441 | 710,984 | 159,983 | ||
| Earnings per share for the year | 14 | |||
| (expressed in US$ per common share) | ||||
| Basic | ||||
| —profit from continuing operations attributable to equity holders | 5.01 | 4.46 | 2.55 | |
| —(loss) profit from discontinued | ||||
| operations attributable to equity holders | (0.21) | 2.44 | (0.87) | |
| —profit for the year attributable to equity holders | 4.80 | 6.90 | 1.68 | |
| Diluted | ||||
| —profit from continuing operations attributable to equity holders | 4.98 | 4.33 | 2.52 | |
| —(loss) profit from discontinued | ||||
| operations attributable to equity holders | (0.21) | 2.28 | (0.85) | |
| —profit for the year attributable to equity holders | 4.77 | 6.61 | 1.67 |
- (i) Comparative information reclassified as a result of the classification of Millicom’s operation in Sierra Leone as discontinued operation (see note 6)
The accompanying notes are an integral part of these consolidated financial statements.
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