Constantinou Bros Hotels Public Company LTD

Consolidated Income Statement for the year ended 31st December, 2015.

	Notes	2015 €	2014 €
Income Cost of sales	5	39.384.355 (21.095.869)	52.956.501 (33.442.236)
Gross Profit		____ 18.288.486	____ 19.514.265
Selling & Marketing expenses Administrative expenses Other income Other Income/(losses) -net	6 7	(3.672.868) (4.356.715) 349.084 134.432 ____	(7.226.582) (3.956.640) 170.406 (6.962.985) ____
Profit(loss)		10.742.419	1.538.464
Finance costs	10	(3.988.854)	(4.319.632)
Profit/(loss) before taxation		____ 6.753.565	____ (2.781.168)
Tax expense	11	(841.660)	(1.340.076)
Profit/(Loss) for the year		____ 5.911.905	____ (4.121.244)
Profit/(Loss) per share attributable to shareholders of the Company (cents per share)		==========	==========
Basic and fully diluted (cents)	13	(3,70)	(2,54)
Profit/(Loss) attributable to:		==========	==========
Shareholders of the Company		5.939.322	(4.087.464)
Minority interest		(27.417) ____	(33.780) ____
		5.911.905	(4.121.244)
		==========	==========

The notes on pages 17 to 62 form an integral part of these consolidated financial statements.

Consolidated balance sheet as at 31st December, 2015 Assets	Notes.	2015 €	2014 €
Non-current assets Immovable property, plant and equipment	16	131.897.334	133.176.227
Financial Assets available for sale	18	261.652 _____	- _____
		132.158.986 _____	133.176.227 _____
Current Assets Inventories and unfinished works Trade and other receivables	19 20	57.070.375 10.772.249	59.306.173 9.911.982
Cash and Bank balances	21	17.266.598	13.623.208
		_____ 85.109.222	_____ 82.841.363
Total Assets		_____ 217.268.208 ===========	_____ 216.017.590 ===========
Equity and liabilities Capital and reserves Share capital Reserve for redenomination of capital into Euro	22 22	54.642.857 276.475	54.642.857 276.475
Share premium Other reserves Accumulated losses	22 23	27.470.626 20.442.720 (2.872.283) _____	27.470.626 20.966.206 (9.256.291) _____
Interest of non-controlling sharing		99.960.395 1.714.514	94.099.873 1.741.931
Total equity		_____ 101.674.909	_____ 95.841.804
Non-current liabilities Borrowing Deferred tax liabilities	24 25	__ 71.946.162 11.578.884 __ 83.525.046	__ 76.949.155 11.770.532 __ 88.719.687
Current liabilities Trade and other payables Current Tax Liabilities Borrowing	26 24	__ 12.037.632 1.255.255 18.775.366 __	__ 14.390.606 720.628 16.344.865 __
Total liabilities		32.068.253 _____ 115.593.299	31.456.099 _____ 120.175.786
Total equity and liabilities		_____ 217.268.208 ===========	_____ 216.017.590 ===========

On 28th April 2016 the Board of Directors of Constantinou Bros Hotels Public Company Limited authorized these financial statements to be publicized.

Andreas Constantinou, Executive President

Andreas Anastasiou, Executive Director

The notes on pages 17 to 62 form an integral part of these consolidated financial statements.