BVI-registered company EOG Resources, Inc. reported financial results for the fourth quarter and full year 2017. In the fourth quarter 2017, company’s net income was $2,430 million, or $4.20 per share, as compared to net loss of $142 million, or $0.25 per share in the same quarter of 2016. For the year 2017, the BVI company reported net income of $2,583 million, or $4.46 per share (net loss of $1,097 million, or $1.98 per share, for the previous year).
Adjusted non-GAAP net income for the fourth quarter of the reported year was $401 million, or $0.69 per share, as compared to adjusted non-GAAP net loss of $7 million, or $0.01 per share, for the fourth quarter of 2016. Adjusted non-GAAP net income for the full year was $648 million, or $1.12 per share, compared to an adjusted non-GAAP net loss of $893 million, or $1.61 per share, for year 2016.
Capital expenditures for 2018 are expected to range from $5.4 to $5.8 billion, including production facilities and gathering. The company also announced capital program for 2018, which is aimed to achieve strong returns on capital employed and healthy growth while spending within cash flow.
Lenta Ltd., BVI-registered company operating one of the largest retail chains in Russia, announced its consolidated sales and operating results for the fourth quarter and full year period ended 31 December 2017. For the fourth quarter of 2017, company’s total sales grew 23.4% as compared to the same period of 2016; sales growth was 5.2%. In Q4 2017, 30 new hypermarkets and 33 new supermarkets were opened, allowing the total store amount to reach 328 as at 31 December 2017.
In the twelve months ended 31 December 2017, total sales grew 19.2% as compared to the previous year results. Annual sales growth made 0.9%. During the reported year Lenta opened 40 new hypermarkets and 49 new supermarkets and started expansion in Siberia and Ural regions.
Lenta’s CEO Jan Dunning commented on the operating results: “Lenta’s sales growth accelerated to 23% in the fourth quarter of 2017, driven by an improvement in like-for-like sales growth to 5.2% combined with a 21% increase in selling space. Customers reacted positively to continuing improvements in our offering, range, marketing and communication and this led to substantial improvements in both like-for-like ticket and traffic growth.”
West African Minerals Corporation, the mining and exploration group focused on West Africa region and incorporated in the British Virgin Islands, published its final audited results for the year ended 31 March 2017. According to the annual report, total assets of the company were £22.2mln. This 0.9% decrease as compared to t£22.4mln in 2016 was due to operational losses of £0.5mln. Cash in bank equated £3.1mln, compared to £3.6mln in 2016.
In the financial year 2017, the group reported total comprehensive loss of £0.2mln, compared to £0.7mln loss in the previous year. Loss per share (basic and diluted) was 0.14 pence (0.15 pence in 2016).
The BVI company has reduced operational and corporate expenditure to a bare minimum, preserving its cash position during the year. This strategy included significant reduction of exploration field activities, operational team, reduction in the lease area under exploration in Cameroon, and rationalisation of company’s overheads. The company is planning to continue with this strategy in the next financial year.
Mining company Aura Minerals Inc., which in December 2016 redomiciled from the jurisdiction of Canada to the British Virgin Islands, announced its financial and operating results for the fourth quarter and the year ended 31 December 2016, as well as its 2017 guidance.
In the fourth quarter of 2016, net sales revenue of the company decreased by 9 per cent as compared to the same quarter of 2015, while net sales for the year ended December 31, 2016 decreased by 12 per cent compared to the previous year figures. For the fourth quarter of 2016 the BVI company reported income of US$20,353, or US$0.62 per share, compared to a loss of US$11,886 or US$0.42 per share for the same period of 2015. For the reported year, income was US$19,020 or US$0.64 per share compared to a loss of US$14,479 or US$0.56 per share in the same period of last year.
A non-recurring gain on acquisition from Ernesto /Pau-a-Pique Project of US$19,886 before tax is also included in the income for the fourth quarter and year ended December 31, 2016. For the year ended December 31, 2016, Aura Minerals recorded total proceeds of US$4,093 (net of share issue cost of US$69).