Profit and Loss Annual Report
|Group Profit and Loss Account (reported in USD million)|
|Year ended 31 December 20181||Year ended 31 December 20171|
|US$ million||US$ million|
|Revenue - B2C|
|Revenue before VAT accrual release||529.9||541.8|
|VAT accrual release2||10.7||-|
|Adjustment of VAT accrual release||(10.7)||-|
|Research and development expenses||(32.8)||(35.4)|
|Selling and marketing expenses||(155.0)||(162.5)|
Depreciation and amortisation
|Adjusted profit before tax||86.7||78.3|
|Share benefit charges||(8.9)||(8.5)|
|VAT accrual release||10.7||-|
|Gain from re-measurement of previously held equity interest in joint ventures||9.3||-|
|Share of equity accounted associates' loss||(0.2)||(0.2)|
|Profit before tax||108.7||18.8|
|Adjusted basic earnings per share||20.2¢||20.1¢|
|Basic earnings per share||26.3¢||3.5¢|
- 1 Totals may not sum due to rounding.
- 2 Revenue includes US$10.7 million (2017: nil) in respect of accrual release which relates to receipt of tax assessments in respect of legacy value-added tax in Germany.
- 3 Excluding depreciation of US$5.3 million (2017: US$5.7 million) and amortisation of US$15.0 million (2017: US$13.6 million).
- 4 Excluding share benefit charges of US$8.9 million (2017: US$8.5 million).
- 5 Exceptional income of US$11.1 million related to US$22.4 million release of provision following receipt of tax assessments in respect of legacy VAT relating to the provision of gaming services in Germany prior to 2015 (2017: exceptional charges of US$45.3 million) offset by an accrual of US$10.4 million in respect of regulatory matters related to customers’ activity in prior periods and US$0.9 million legal and professional costs associated with aborted M&A efforts.