Demetra Holdings Plc

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the period from 1 January 2016 to 31 March 2016

Quarter ended 31 March Income Interest receivable and other finance income 269,928 321,317

Profit from the sale, revaluation and exploitation of land and property	296,318	233,616
Loss from financial assets	(2,506,504)	(1,653,062)
	(1,940,258)	(1,098,129)
Operating expenses	(444,933)	(458,731)
Decrease in provisions for doubtful debts	-	27
Finance costs	(1,044)	(1,667)
Share in loss from affiliates	(26,296)	(44,313)
Loss before taxation	(2,412,531)	1,602,813

Taxation	(30,568)	(31,880)

Net loss for the period	(2,443,099)	1,634,693
Other comprehensive expenses
Items to be re-classified to the consolidated statement of profit or loss in
subsequent periods
Profit from revaluation of investments available for sale	4,162	6,251

Total expenses for the period	(2,438,937)	(1,628,442)
Net loss attributable to:
Company shareholders	(2,443,099)	(1,634,693)
Loss per share – cent	(1.22)	0.82

2016 € 2015 €

	31 March	31 December
	2016	2015
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1,408,551	1,413,918
Investment property	31,676,521	31,427.940
Financial assets available for sale	251,937	247,775
Receivables from affiliates	9,647,031	9,550,750
Bank deposits	-	1,000,000
Deferred taxation	1,704,613	1,704,613
Total non-current assets	44,688,653	45,344,996
Current assets
Inventories	10,054,199	10,285,498
Loans and other receivables	714,859	1,031,686
Financial assets at fair value through profit and loss	39,131,454	41,268,958
Bank deposits	29,561,782	28,066,829
Cash and cash equivalents	693,898	1,237,799
Total current assets	80,156,192	81,990,770
Total assets	124,844,845	127,335,766

NET POSITION AND LIABILITIES
Equity
Share capital	140,000,000	140,000,000
Reserves	(17,011,914)	(14,572,977)
Total equity	122,988,086	125,427,023
Non-current liabilities
Deferred taxation	23,340	23,340
Total non-current liabilities	23,340	23,340
Current liabilities
Provision for losses of affiliates	1,042,384	1,016,088
Trade and other creditors	550,665	601,615
Current tax liabilities	240,370	267,690
Total current liabilities	1,833,419	1,885,403
Total equity and liabilities	124,844,845	127,335,766
Net asset value per share – cent	61.49	62.71

	Quarter ended
	31 March
	2016	2015
	€	€
Cash flow from operating activities
Loss before taxation	(2,412,531)	(1,602,813)
Adjustments for:
Depreciation of intangible fixed assets	23,356	22,053
Loss from disposal and revaluation of financial assets at fair value through
profit and loss	2,506,504	1,653,062
Share in loss from affiliates	26,296	44,313
Net cash flow before changes in working capital	143,625	116,615
Decrease in inventories	231,299	-
Decrease in loans and other receivables	316,827	223,789
Net purchases and sales of financial assets at fair value through profit and
loss	(269,000)	-
Increase in receivables from affiliates	(96,281)	(480,480)
Increase in bank deposits	(494,953)	(17,297,346)
(Decrease) / increase in trade and other creditors	(50,960)	2,887
Cash for operating activities	(219,443)	(17,434,535)
Tax paid	(57,888)	(123,921)
Net cash for operating activities	(277,331)	(17,558,456)
Cash flow from investing activities
Purchase of intangible fixed assets	(17,989)	(20,526)
Purchase of investment property	(248,581)	(112,275)
Net cash for investing activities	(266,570)	(132,801)
Net decrease in cash and cash equivalents	(543,901)	(17,691,257)
Cash and cash equivalents at beginning of period	1,237,799	24,068,728
Cash and cash equivalents at end of period	693,898	6,377,471

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