Ambrian reports a gross profit of $1.80 million for the six months ended 30 June on a turnover of $0.57 billion compared with a loss of $3.37 million on a turnover of $0.92 billion last time. After-tax losses rose to $11.9m from $8.8m The group reports a loss before interest, tax, depreciation and amortisation of $0.49 million (1H2015: $8.74 million loss), primarily a function of corporate overheads. EBITDA is adjusted to exclude the foreign exchange loss attributable to the conversion of the VAT receivable denominated in local currency and created over the construction period of the cement plant in Mozambique. Group loss before tax and impairment charge for the six months ended 30 June 2016 amounted to $3.58 million (1H 2015: loss before tax of $8.78 million). Within this, trading and logistics reported a loss before tax of $0.95 million for the period (1H 2015: loss before tax of $5.95 million). The cement business reported a loss before tax and impairment charge of $2.31 million for the period (1H 2015: loss before tax of $2.53 million).
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