129. Botswana Development Corporation Limited 2.0 Accounts 2.1 Audit Opinion 2.2 Financial Results The financial statements of the Botswana Development Corporation  Limited for the financial year ended 30 June 2017 were audited by  Messrs KPMG, Certified Auditors, who were appointed by the Board.  In the opinion of the auditors:  The consolidated and separate financial statements presented  fairly in all material respects, the consolidated and separate  financial position of Botswana Development Corporation Limited  as at 31 June 2017, and of its consolidated and separate  financial performance and consolidated and separate cash  flows for the year then ended, in accordance with International  Financial Reporting Standards.  The financial operations of the Group showed a profit of P52.78  million before other comprehensive loss for the year of P329.77  million in the year under review, compared to a profit of P58.22  million before other comprehensive income of P48.62 million  reported in the previous year, while the Corporation recorded a  profit of P143.69 million before other comprehensive loss of  P338.88 million in the year under review, compared to profit of  P208.24 million before other comprehensive income of P30.10  million in the previous year.  The profit from operations for the Group declined by 40% from  P68.53 million in the previous year to P41.42 million in the year  under review, mainly due to a decline in income from trade by  31% from P198.47 million in the previous year to P137.45 million in  the year under review and a decline of 37% in other operating  income from P70.87 million in the previous year to P44.43 million in  the year under review. Expenditure on the other hand declined  by 16% from P410.11 million in the previous year to P343.76 million  in the year under review. The operating profit for the Corporation  declined by 45% from P208.24 million in the previous year to  P143.69 million in the year under review due to a decline of 31%  in income from trade, from P262.20 million in the previous year to  P179.69 million in the year under review, while expenditure  declined by 25% from P179.10 million in the previous year to  P129.33 million in the year under review.  114 