Brightoil Petroleum Holdings Limited reported unaudited consolidated earnings results for the six months ended December 31, 2015. For the period, the company reported revenues were HKD 21,649,211,000 against HKD 44,886,474,000 a year ago. Loss before taxation was HKD 424,777,000 against profit of HKD 702,894,000 a year ago.

Loss for the period attributable to the owners of the company was HKD 522,956,000 or 5.17 cents diluted per share against profit of HKD 561,141,000 or 6.01 cents diluted per share a year ago. Net cash generated from operating activities was HKD 494,299,000 against HKD 4,290,640,000 a year ago. Purchase of property, plant and equipment was HKD 259,477,000 against HKD 503,157,000 a year ago.

The total revenue of the Group decreased as compared with the previous period of six months ended 31 December 2014. The decrease in revenue was mainly due to the decrease of global oil prices. The Group recorded an EBITDA of HKD 680 million for the six months ended 31 December 2015.

The Group recorded loss was mainly attributed to the voluntary impairment of Caofeidian oilfields which is non-cash in nature.