BVI-incorporated international public company Orca Exploration Group Inc. announced its financial results for the year ended December 31, 2017. For the reported year, company’s revenue was US$51.9mln, which is 21% decrease from US$65.9mln in the previous year. The company announced net loss of US$2.5mln in 2017, compared to net income of US$2.2mln in the year 2016.
Net cash flows from operating activities of the BVI company for the year were US$48.2mln, which is an increase by 141% from US$20.0mln in the previous year. Orca’s funds flow from operations for the year was US$14.8mln, which is 53% decrease from US$31.9mln in 2016. This decrease is primarily the consequence of the fall in the company’s operating revenue and lower sales of Additional Gas volumes. Orca Group’s working capital decreased 3% to US$69.6mln, as compared to US$72.0mln in the end of 2016.
The shareholders meeting will be held by the Board of Directors of Orca Group on June 6, 2018.
Talon Metals Corp., the British Virgin Islands-incorporated exploration company listed on TSX, reported financial results for the year ended December 31, 2017. The company reported a net loss for the year in the amount of US$3.2 million or $0.02 per share (basic and diluted). This compares to net loss for the previous year in the amount of US$1.4 million, or US$0.01 per share. The increase in net loss in 2017 is primarily the result of a loss on the fair value revaluation of the Resource Capital Fund unsecured convertible loan and administration expenses.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project amounted to $1.8 million for the year ended December 31, 2017. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project amounted to US$38.9 million.
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.”