Ch. Charilaou Group Plc

Interim / Quarterly Report • Aug 26, 2015

CH. CHARILAOU GROUP PLC CONDENSED CONSOLIDATED STATEMENT OF TOTAL INCOME Period from 1 January 2015 to 30 June 2015

	01/01-30/06	01/01-30/06
	2015	2014
	€	€
Income	1,103,477	1,138,963
Cost of sales	(758,971)	(773,693)
Gross profit	344,506	366,270
Other income	--	326
Loss from investing activities	(38,685)	(48,445)
Sales and administrative expenses	(245,282)	(252,273)
Profit from operating activities	60,539	65,878
Net finance costs	(4,682)	(5,442)
Profit before taxation	55,857	60,436
Taxation	--	--
Net profit	55,857	60,436
Other total income	--	--
Total income for the period	55,857	60,436
Earnings per share attributed to the shareholders of the
parent company (cent)	0.00025	0.00028

CH. CHARILAOU GROUP PLC CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2015

	30/06/2015 €	31/12/2014 €
ASSETS
Non-current assets
Plant and equipment	55,356	66,018
Other intangible assets	478,938	487,656
	534,294	553,674
Current assets
Stocks	189,456	180,250
Trade and other receivables	1,125,417	979,355
Financial assets at fair value through profit and loss	116,055	154,740
Cash at bank and in hand	413,046	598,375
	1,843,974	1,912,720
Total assets	2,378,268	2,466,394
EQUITY AND LIABILITIES
Equity
Share capital	362,430	362,430
Accumulated profits	1,255,190	1,199,333
Total equity	1,617,620	1,561,763
Non-current liabilities
Borrowings	36,226	42,726
	36,226	42,726
Current liabilities
Trade and other creditors	637,030	682,046
Bank overdraft	19,143	111,610
Borrowings	22,500	22,500
Current tax liabilities	45,749	45,749
	724,422	861,905
Total liabilities	760,648	904,631
Total equity and liabilities	2,378,268	2,466,394

CH. CHARILAOU GROUP PLC CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Period from 1 January 2015 to 30 June 2015

	Accumulated
	Share capital	profits	Total
	€	€	€
Balance – 1 January 2105	362,430	1,199,333	1,561,763
Total income for the period	--	55,857	55,857
Balance – 30 June 2015	362,430	1.255,190	1,617,620
Balance – 1 January 2014	362,430	1,416,830	1,779,260
Net loss for the year	--	(217,497)	(217,497)
Balance – 31 December 2014	362,430	1,199,333	1,561,763

Companies which do not distribute 70% of their profits after tax, as defined by the Special Contribution for the Defence of the Republic Law, by the end of the two years after the end of the year of assessment to which the profits refer, will be deemed to have distributed this amount as dividend.

Special contribution for defence at 20% for the years 2012 and 2013 and 17% for 2014 onwards (until 31 August 2011 the rate was 15% and was then increased to 17% until 31 December 2011) will be payable on such deemed dividend to the extent that the shareholders (individuals and companies) at the end of the period of two years from the end of the year of assessment to which the profits refer, are Cyprus tax residents. The amount of this deemed dividend distribution is reduced by any actual dividend already paid for the year to which the profits refer. This special contribution for defence is paid by the Company for the account of the shareholders.

CH. CHARILAOU GROUP PLC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the period from 1 January 2015 to 30 June 2015

	01/01-30/06/
	2015	31/12/2014
	€	€
CASH FLOW FROM OPERATING ACTIVITIES
Profit/(loss) before taxation	55,857	(172,360)
Adjustments for:
Depreciation of plant and equipment	12,662	25,084
Depreciation of goodwill	8,718	17,435
Losses of fair value in financial assets	38,685	454,295
Charge for decrease in value of investments in associated
companies	--	257
Credit interest	(300)	(5, 370)
Debit interest	4,982	17,256
	120,604	336,597
Cash flow for operating activities before changes in working
capital
Increase in stocks	(9,206)	(76,597)
Decrease in trade and other receivables	(146,062)	(544,992)
Decrease in trade and other creditors	(45,016)	(32,476)
Cash flow from operating activities	61,268	317,468
Tax paid	--	(95,217)
Net cash flow from operating activities	(61,268)	(412,685)
CASH FLOW FROM INVESTING ACTIVITIES
Payment for the purchase of property, plant and equipment	(2,000)	(10,161)
Interest received	300	5,370
Net cash flow for investing activities	(1,700)	(4,791)
CASH FLOW FROM FINANCING ACTIVITIES
Repayment of loans	(6,500)	(12,535)
Payment of interest	(4,982)	(17,256)
Net cash flow from financing activities	(11,482)	29,791
Net decrease in cash and cash equivalents	(92,862)	447,267
Cash and cash equivalents:
at beginning of period	486,765	934,032
at end of period	393,903	486,765