FGV Annual Integrated Report 2019

35 ANNUAL INTEGRATED REPORT 2019 03 S E C T I O N MANAGEMENT DISCUSSION & ANALYSIS STATEMENT OF PROFIT OR LOSS Group In RM ’ 000 2019 2018 (Restated) YoY Revenue 13,259,012 13,464,480 -1.5% Cost of sales (12,049,310) (12,097,034) 0.4% Gross profit 1,209,702 1,367,446 -11.5% Other operating income 100,391 121,472 -17.4% Selling and distribution costs (149,908) (161,336) 7.1% Administrative expenses (861,554) (928,211) 7.2% Other operating expenses (3,558) (38,751) 90.8% Other gains - net 2,322 6,143 -62.2% Operating profit before impairment and fair value changes in land lease agreement (LLA) liability 297,395 366,763 -18.9% Impairment of financial assets (net) (86,300) (153,160) 43.7% Impairment of non-financial assets (net) (168,262) (795,673) 78.9% Fair value changes in LLA liability (236,821) (233,379) -1.5% Operating loss (193,988) (815,449) 76.2% Finance income 25,085 33,969 -26.2% Finance costs (183,158) (202,442) 9.5% Share of results from associates (1,625) (11,721) 86.1% Share of results from joint ventures 14,858 (29,324) >100% Loss before zakat and taxation (338,828) (1,024,967) 66.9% Zakat (6,397) (18,603) 65.6% Taxation (25,931) (100,034) 74.1% Loss for the financial year (371,156) (1,143,604) 67.5% Loss attributable to: - Owners of the Company (246,174) (1,080,923) 77.2% - Non-controlling interests (124,982) (62,681) -99.4% (371,156) (1,143,604) 67.5% STATEMENTS AND ANALYSIS