Rak Investment Authority Government of Ras Al Khaimah Ras Al Khaimah United Arab Emirates
RAK INVESTMENT AUTHORITY GOVERNMENT OF RAS AL KHAIMAH RAS AL KHAIMAH UNITED ARAB EMIRATES CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED) PERIOD ENDED 30 JUNE 2008 RAK INVESTMENT AUTHORITY GOVERNMENT OF RAS AL KHAIMAH RAS AL KHAIMAH UNITED ARAB EMIRATES Table of Contents Page Exhibit Independent Auditor’s Report on Review of Consolidated Condensed Interim Financial Information 1 -- Consolidated Condensed Interim Balance Sheet (Unaudited) 2 A Consolidated Condensed Interim Statement of Income (Unaudited) 3 B Consolidated Condensed Interim Statement of Changes in Equity 4 C (Unaudited) Consolidated Condensed Interim Statement of Cash Flows 5 D (Unaudited) Notes to the Consolidated Condensed Interim Financial Statements (Unaudited) 6 – 16 -- RAK INVESTMENT AUTHORITY GOVERNMENT OF RAS AL KHAIMAH RAS AL KHAIMAH UNITED ARAB EMIRATES CONSOLIDATED CONDENSED INTERIM STATEMENT OF INCOME FOR THE PERIOD ENDED 30 JUNE 2008 (UNAUDITED) EXHIBIT B Six-Months Period Ended Three Months Period Ended Note 30 June 30 June 30 June 30 June 2008 2007 2008 2007 (Unaudited) (Unaudited) (Unaudited) (Unaudited) AED AED AED AED Revenue 88,190,235 59,557,607 46,921,375 37,971,936 Direct expenses (15,845,550) (18,942,302) (6,997,208) (11,317,138) __________ _________ _________ ___________ Gross profit 72,344,685 40,615,305 39,924,167 26,654,798 Other income 20,266,978 6,069,364 12,416,235 3,772,574 Marketing expenses (6,696,784) (10,427,636) (3,426,662) (5,284,947) Administrative expenses (14,823,885) (19,895,833) (3,065,104) (12,913,033) Finance costs
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