	2018	2017
	€	€
Income	45,925,063	44,117,366
Cost of sales	(33,143,581)	(31,404,123)
Gross profit	12,781,482	12,713,243
Other operating income	833,468	92,415
Income from interest	166,781	115,552
Depreciation	(1,919,632)	(1,506,090)
Sales expenses	(308,853)	(327,784)
Administrative costs	(4,889,448)	(4,382,092)
Impairment of fair value of financial assets through profit and loss	-	(127,373)
Operating profit	6,663,798	6,577,871
Net finance income / (costs)	211,286	(918,732)
Net gain / (loss) from disposal of property, plant and equipment	46,830	(614)
Profit before taxation	6,921,914	5,658,525
Taxation	(385,518)	(401,692)
Net profit for the year	6,536,396	5,256,833
Net profit for the year attributable to:
Shareholders of holding company	6,640,343	5,179,900
Minority interest	(103,947)	76,933
Net profit for the year	6,536,396	5,256,833
Earnings per share attributed to the shareholders of the holding company
(cents) – basic and fully diluted	18.18	14.18

CONSOLIDATED STATEMEMENT OF OTHER COMPREHENSIVE INCOME

Year ended 31 December 2018

	2018 €	2017 €
Net profit for the year	6.536.396	5.256.833
Other comprehensive income
Items not to be reclassified to profit or loss in subsequent periods Adjustment of fair value of land and buildings Financial assets at fair value through other comprehensive income – fair	629.700	30.990
value losses	237.704	-
Deferred taxation on revaluation of property	(116.786)	(2.975)
	750.618	28.015
Items that will or may be reclassified to profit or loss in subsequent periods:
Financial assets available for sale – Fair value gains	-	322.146
	-	322.146
Other comprehensive income for the year after taxation	750.618	350.161
Comprehensive income for the year	7.287.014	5.606.994
Comprehensive income for the year attributable to:
Shareholders of holding company	7.390.961	5.530.061
Minority interest	(103.947)	76.933
	7.287.014	5.606.994

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 December 2018

	2018	2017
ASSETS	€	€

Non-current assets
Property, vessels, plant and equipment	17.929.739	16.822.008
Financial assets at fair value through other comprehensive income	2.298.951	2.061.247
Other receivables	341.720	341.720
	20.570.410	19.224.975
Current assets
Inventories	531.265	514.789
Trade and other receivables	2.399.464	2.502.614
Cash at bank and in hand	21.859.436	15.388.640
	24.790.165	18.406.043
Total assets	45.360.575	37.631.018
EQUITY AND LIABILITIES
Equity
Share capital	15.707.529	15.707.529
Share premium reserve	937.067	937.067
Fair value reserves	4.217.255	3.594.010
Accumulated profits	16.224.197	11.393.534
	37.086.048	31.632.140
Minority interest	29.338	136.585
Total equity	31.768.725	31.768.725
Non-current liabilities
Trade and other creditors	607.266	719.766
Deferred tax liabilities	1.106.213	970.428
	1.713.479	1.577.694

Current liabilities Trade and other creditors	5.100.860	3.843.826
Borrowings	1.344.440	284.034
Current tax liabilities	10.158	80.927
Dividend payable	76.252	75.812
	6.531.710	4.284.599
Total liabilities	8.245.189	5.862.293
Total equity and liabilities	45.360.575	37.631.018

	Share capital €	Share premium reserve €	Other reserves €	Accumulated profits €	Minority interest €	Total €
Balance as at 1 January 2017 Comprehensive income	15,707,529	937,067	3,243,849	9,135,965	63,117	29,087,527
Net profit for the year Other comprehensive income for the	-	-	-	5,179,900	76,933	5,256,833
year	-	-	350,161	-	-	350,161
Comprehensive income for the year	-	-	350,161	5,179,900	76,933	5,606,994
Transactions with shareholders Dividends	-	-	-	(2,922,331)	-	(2,922,331)
Total transactions with owners	-	-	-	(2,922,331)	-	(2,922,331)
Other changes Dividends payable by subsidiary in minority interest	-	-	-	-	(3,465)	(3,465)
Total other changes	-	-	-	-	(3,465)	(3,465)
Balance as at 1 January 2018 as previously stated Impact of the initial implementation of IFRS 9 Balance as at 1 January 2018 as	15,707,529 -	937,067 -	3,594,010 (127,373)	11,393,534 16,777	136,585 -	31,768,725 (110,596)
adjusted	15,707,529	937,067	3,466,637	11,410,311	136,585	31,658,129
Comprehensive income
Net profit for the year	-	-	-	6,640,343	(103,947)	6,536,396
Other comprehensive income for the year	-	-	750,618	-	-	750,618
Comprehensive income for the year	-	-	750,618	6,640,343	(103,947)	7,287,014
Transactions with shareholders
Dividends	-	-	-	(1,826,457)	-	(1,826,457)
Total transactions with owners	-	-	-	(1,826,457)	-	(1,826,457)
Other changes
Dividends payable by subsidiary in minority interest	-	-	-	-	(3,300)	(3,300)
Total other changes	-	-	-	-	(3,300)	(3,300)
Balance as at 1 January 2018	15,707,529	937,067	4,217,255	16,224,197	29,338	31,115,386

The share premium reserve fund is not available for distribution.