Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME For the half year ended 30 June 2018

	30 June	30 June
	2018 €	2017 €
Turnover	5.256.733	5.048.606
Cost of goods sold	(2.970.265)	(2.782.082)
Gross profit	2.286.468	2.266.524
Other income	14.724	36.033
Marketing cost	(186.497)	(141.117)
Administrative expenses	(1.169.935)	(1.128.365)
Other operating expenses	(535.900)	(656.494)
Finance cost	(33.930)	(42.081)
Share in the results of associated company	(11.567)	629
Profit (loss) from investments	164	107

Profit before taxation	363.527	335.236
Taxation	(72.931)	(60.997)

Profit for the period	290.596	274.239
Other comprehensive income/(expenses) for the period
Amounts not to be recognized in the profit or (loss) in future periods:
Deferred tax adjustment	705	9.578
	705	9.578

Other comprehensive income for the period after taxation	705	9.578
Comprehensive income/(expenses) for the period	291.301	283.817
Net profit/ (loss) is allocated as follows:
Shareholders of parent company	286.400	284.398
Non-controlling interest	4.196	(10.159)
	290.596	274.239

	30 June	31 December
	2018	2017
	€	€
ASSETS
Non-current assets
Property, plant and equipment	84.221.178	83.648.752
Intangible assets	11.631	3.662
Investment in associated company	6.858.760	6.870.327
Financial assets at fair value through profit and loss	7.704	7.540
Loans receivable	1.196.648	1.186.967
	92.295.651	91.717.248
Current assets
Inventories	427.046	205.916
Trade and other receivables	1.002.954	854.638
Receivables from affiliates	17.083	17.031
Cash at bank and in hand	2.151.004	1.916.767
	3.598.087	2.994.352

TOTAL ASSETS	95.893.738	94.711.630
EQUITY AND LIABILITIES
Equity and reserves
Share capital	11.903.113	11.903.113
Other reserves	64.232.137	63.890.888
	76.135.250	75.794.001
Non-controlling interest	4.280.399	4.274.469
Total equity	80.415.649	80.068.470
Non-current liabilities
Borrowings	746.769	1.029.604
Deferred tax liabilities	10.797.575	10.853.453
	11.544.344	11.883.057
Current liabilities
Trade and other creditors	2.985.384	1.613.797
Amounts payable to affiliates	192.401	149.565
Bank overdrafts	-	249.383
Borrowings	610.400	674.929
Current tax liabilities	145.500	72.429
	3.933.745	2.760.103
Total liabilities	15.478.089	14.643.160

TOTAL EQUITY AND LIABILITIES	95.893.738	94.711.630

for the half year ended 30 June 2018

	30 June	30 June
	2018	2017
	€	€
Cash flow from operating activities
Profit before taxation	363.527	335.236
Adjustment for:
Depreciation of land, property and equipment	582.660	567.234
Instalments for intangible assets	3.013	1.010
Finance cost	33.930	42.081
Share in loss/(profit) of associated companies	11.567	(629)
Increase in the fair value of loans receivable	(9.681)	(25.950)
Gains of fair values in financial assets at fair value through profit and loss	(164)	(107)
Operating profit / (loss) before changes in working capital	984.853	918.875
Increase in inventories	(221.130)	(140.552)
Increase in trade and other receivables	(148.316)	(283.220)
Increase / (decrease) in receivables from affiliates	(52)	3.985
Increase in trade and other creditors	1.372.366	110.719
Increase in payables to affiliates	42.832	76.107

Net cash flow from operating activities	2.030.553	685.915
Cash flow from investing activities
Additions to land, property and equipment	(1.155.086)	(715.408)
Additions to intangible assets	(10.453)	(2.303)
Collection of dividends from associated company	-	75.000
Net cash flow for investing activities	(1.165.629)	(642.711)

Cash flow from financing activities
Repayment of loans	(347.364)	(610.801)
Interest paid	(33.970)	(42.089)
Net cash flow for financing activities	(381.334)	(652.890)

Net increase/(decrease) in cash and cash equivalents	483.590	(609.686)
Cash and cash equivalents as at 1 January	1.667.414	2.342.080
Cash and cash equivalents as at 30 June	2.151.004	1.732.394

					Equity attributable to the shareholders of the parent company
					Difference from
		Fair	Share		conversion of		Non
	Share	value	premium	Accumulated	share capital		controlling	Total
	capital	reserve	reserve	profits	into Euro	Total	interest	equity
	€	€	€	€	€	€	€	€
1 January 2017	11.903.113	51.510.000	685.675	5.769.200	60.226	73.928.214	4.157.359	78.085.573
Profit for the first half of 2017	-	-	-	284.398	-	284.398	(10.159)	274.239
Dividends	-	-	-	-	-	-	-	-
Deferred taxation	-	(9.578)	-	-	-	(9.578)	-	(9.578)
Non-controlling interest	-	301	-	-	-	301	(301)	-
30 June 2017	11.903.113	50.500.723	685.675	6.053.598	60.226	74.203.335	4.146.899	78.350.234
Profit for the second half of 2017	-	-	-	2.630.484	-	2.630.484	169.630	2.800.114
Revaluation of property	-	-	-	-	-	-	-	-
Deferred taxation	-	(3.916)	-	-	-	(3.916)	-	(3.916)
Dividends	-	-	-	(1.050.274)	-	(1.050.274)	(42.000)	(1.092.274)
Non-controlling interest	-	60	-	-	-	60	(60)	-
Deferred taxation on revaluation of
property of associated company	-	14.312	-	-	-	14.312	-	14.312

31 December 2017	11.903.113	55.511.179	685.675	7.633.808	60.226	75.794.001	4.274.469	80.068.470
Profit for the first half of 2018	-	-	-	286.400	-	286.400	4.196	292.926
Deferred taxation	-	56.583	-	-	-	56.364	-	56.364
Dividends				-		-		-
Defence contribution on dividends payable				-		-		-
by the shareholders
Non-controlling interest	-	(1.734)	-	-	-	(1.734)	1.734	-
30 June 2018	11.903.113	55.566.028	685.675	7.920.208	60.226	76.135.250	4.280.399	80.415.430