Agros Development Company "Proodos" Public LTD

Earnings Release • Aug 29, 2014

AGROS DEVELOPMENT "PROODOS" PUBLIC COMPANY LIMITED

To Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Six month results 2014

We wish to announce that at the meeting held on August 28, 2014 the Board of Directors of Agros Development "Proodos" Public Limited examined and approved the six-months results for the period ended June 30, 2014. The results are attached.

The results will not be posted to the shareholders but the total income statements and the interim management statement will be published in newspaper "Simerini" on Monday, September 1st, 2014. Copies will be available at the Company's registered office, 1 Rodon Street, Rodon Hotel, 4860 Agros or the Secretary's Office, Mr Savvas Menelaou, 42-44 Griva Digheni Avenue, IBM Building, 3^rd floor, Nicosia, tel. 22672015-22711866.

Nicosia 29 August 2014

By order of the Board of Directors

Notice: Cyprus Securities & Exchange Commission

CONSOLIDATED PROFIT AND LOSS ACCOUNT

$\langle \cdot \rangle$

$\alpha$ , and $\alpha$ , and

$\mathcal{O}(\mathcal{O}(n^2))$ . The contribution of $\mathcal{O}(\mathcal{O}(n^2))$

$\sim$ $\sim$

For the period from January 1 to June 30,2014

	January 1	January 1
	2014 to June	2013 to June
	30	30
	2014	2013
	€	€
	781.389	914.182
Turnover	(736.409)	(874.8 74)
Cost of sales
	44.980	39.308
Gross profit
	(131.467)	(129.212)
Administrative and selling expenses	(124.079)	(144.620)
Depreciation	(59.421)	(66.324)
Other operating expenses
(Loss) / Profit from operations	(269.987)	(300.848)
Before net finance cost
	17	2.479
Finance income	(102.415)	(104.187)
Finance cost	(102.398)	(101.708)
Net finance cost
	(372.385)	(402.556)
(Loss) / profit before taxation	(244.998)	(162.068)
Taxation
	(617, 383)	(564.624)
(Loss) / profit attributable to shareholders
Other total income Diminution in deferred taxation in revaluation of
	(77.325)	293
land
	(694.708)	(564.917)
Total income for the period/year
Basic and fully diluted (loss) /
Earnings per share (cent)	(17, 20)	(15.73)

CONSOLIDATED BALANCE SHEET

$\mathcal{O}(\mathcal{O}(n))$ , where $\mathcal{O}(\mathcal{O}(n))$ , and $\mathcal{O}(\mathcal{O}(n))$

$\sim$

$\mathcal{L}{\text{max}}$ and $\mathcal{L}{\text{max}}$

JUNE 30,2014

	June 30	December 31
	2014	2013
Assets	€	€
Property, plant and equipment	11.259.953	11.368.750
Total non current assets	11.259.953	11.368.750
Property for sale and development	549.315	549.315
Investments available for sale	11	11
Stock	76.546	84.510
Trade and other amounts receivable	52.137	78.110
Cash in hand and at bank	23.625	24.148
Total current assets	701.634	736.094
Total assets	11.961.587	12.104.844
Equity and liabilities
Share capital	6.139.268	6.139.268
Reserves	1.046.476	1.741.184
Total equity	7.185.744	7.880.452
Non short term liabilities
Deferred tax liabilities	1.149.755	827.432
Installments of long term loans	2 547 536	2.558.340
Total non current liabilities	3.697.291	3.385.772
Current liabilities
Bank overdrafts	578.997	351.291
Current installments of long term loans	313.165	313.165
Trade and other amounts payable	186.126	154.269
Current tax liabilities	264	19.895
Total current liabilities	1.078.552	838,620
Total liabilities	4.775.843	4.224.392
Total equity and liabilities	11,961.587	12.104.844