Toffer Limited entered into Contact A, a fixed-price construction contract with no variable component, on | January 2016. The contract is considered to contain only one performance obligation which will be satisfied over time and Tofter Limited determined that an input method that uses the percentage of completion based on costs incurred appropriately predicts performance under the contract. The following details about the contract are available:

Total contract value (determined at inception) €80 million Costs incurred to 31 December 2017 €50 million Estimated costs to complete €7 million Estimated % completion 80%

Profit recognised in 2016 €11 million Requirement Calculate the profit to be recognised in the statement of profit or loss and other comprehensive income of Toffer Limited for the year ended 31 December 2017 in respect of Contract A.