K. Kythreotis Holdings Public LTD

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED PROFIT AND LOSS ACCOUNT

	Six months ended 30 June
	2015	2014
	€	€
Sales	3,010,542	3,880,184
Costs of sales	(3,047,979)	(3,838,538)
Gross (loss) / profit	(37,437)	41,646
Other income	151,407	42,820
Sales and distribution costs	(15,219)	(58,322)
Administrative expenses	(533,188)	(540,951)
Increase in the fair value of investments held for trading	99	1,747
Decrease in the fair value of investments held for trading	(1,896)	-
Finance costs	(63,932)	(70,396)
Share of loss from participation in associated company	(52,087)	(49,255)
Loss before taxation	(552,253)	(632,711)
Taxation	(29,212)	42,003
Loss for the period	(581,465)	590,708
Other comprehensive expenses:
Increase in the fair value of investments available for sale	5,242	6,988
Total expenses for the period attributable to the shareholders	(576,223)	(583,270)
Basic and fully diluted loss per share (cent)	(1.37)	(1.39)

	30.06.2015	2014
	€	€
ASSETS
Non-current assets
Property, plant and equipment	5,889,524	6,274,254
Goodwill	1,487,469	1,487,469
Investments in property	2,736,687	2,486,549
Investment in associated company	523,840	575,927
Investments available for sale	29,703	24,461
Loan to associated company	82,120	82,120
	10,749,343	10,930,780
Current assets
Inventories	1,536,716	1,380,436
Investments held for trading	23,453	25,250
Trade and other debtors	2,791,196	2,795,109
Taxation	6,141	88,961
Cash at bank and in hand	294,760	736,591
	4,652,266	5,026,347
Total assets	15,401,609	15,957,127
EQUITY AND LIABILITIES
Equity
Share capital	7,216,500	7,216,500
Reserves	4,617,340	5,193,563
Total equity	11,833,840	12,410,063
Non-current liabilities
Long-term instalments of hire-purchase creditors	21,439	64,314
Deferred taxation	226,335	284,521
Total non-current liabilities	247,774	348,835
Current liabilities
Trade and other creditors	1,393,116	1,843,794
Current instalments of hire-purchase creditors	85,750	85,750
Bank overdrafts	1,841,129	1,268,685
Total current liabilities	3,319,995	3,198,229
Total liabilities	3,567,769	3,547,064
Total equity and liabilities	15,401,609	15,957,127

	Share Capital €	Difference from the conversion of share capital into Euro reserve €	Profit and loss account reserve €	Share premium reserve €	Land reappraisal reserve €	Reappraisal of investments available for sale reserve €	Other reserves €	Total €
Balance as at 31.12.2013 Total comprehensive	7,216,500	36,513	3,760,871	2,019,176	1,285,268	(13,976)	39,761	14,341,429
expenses for the period	-	-	(590,708)	-		6,988	-	(583,720)
Balance as at 30.06.2014	7,216,500	36,513	3,170,163	2,019,176	1,285,268	(6,988)	39,761	13,757,709
Balance as at 31.12.2014 Total comprehensive	7,216,500	36,513	2,046,993	2,019,176	1,051,120	-	39,761	12,410,063
expenses for the period	-	-	(581,465)	-	-	5,242	-	(576,223)
Balance as at 30 June 2015	7,216,500	36,513	1,465,528	2,019,176	1,051,120	5,242	39,761	11,833,840

		Six months ended 30 June
	2015	2014
	€	€
Cash flow from operating activities
Loss before taxation	(552,253)	(632,711)
Adjustment for items not affecting cash movement	432,431	520,262
Operating Loss profit before changes in working capital	(119,822)	(112,449)
Change in working capital	(603,045)	(239,987)
Cash for operating activities	(722,867)	(352,436)
Tax paid	(4,574)	(66)
Net cash for operating activities	(727,441)	(352,502)
Cash flow used for investing activities	(180,027)	(122,352)
Cash flow used for financing activities	(106,807)	(109,484)
Net decrease in cash and cash equivalents	(1,014,275)	(584,338)
Cash and cash equivalents at beginning of period	(532,094)	(775,217)
Cash and cash equivalents at end of period	(1,546,369)	(1,359,555)