Lordos Hotels (Holdings) Public LTD

CONSOLIDATED PROFIT AND LOSS ACCOUNT For the six months ended June 30, 2014

	June 30 2014 €	June 30 2013 €
Turnover Cost of sales	3.747.098 (2.290.955)	3.223.324 (2.084.680)
Gross profit Other income Distribution expenses Administrative expenses Other operating expenses Finance cost Share of profit of associated company Loss from investments	1.456.143 25.950 (171.312) (1.036.144) (600.361) (163.159) (39.924) (21)	1.138.644 - (189.933) (1.041.043) (560.626) (193.569) (18.021) (90)
Loss before taxation Taxation	(528.828) (661)	(864.638) (480)
Loss for the period	(529.489)	(865.118)
Other total income/(expenses) for the period Readjustment of deferred taxation	3.831 3.831	(3.881) (3.881)
Other total income/(expenses) for the period after taxation Total expenses for the period	3.831 (525.658)	(3.881) (868.999)
The distribution of net loss is as follows:
Shareholders of parent company	(486.562)	(829.844)
Minority interest	(42.927)	(35.274)
	(529.489)	(865.118)

	June 30 2014	December 31 2012
	€	€
ASSETS
Non current assets
Property, plant and equipment	80.167.641	80.511.824
Intangible asset	3.042	2.405
Investment in associated company
	6.119.047	6.158.773
Financial assets at fair value via the results
Loans receivable	23.494	23.515
	1.222.856	1.196.906
	87.536.080	87.893.423

Current assets
Stock	294.302	200.789
Trade and other debtors	1.310.505	812.422
Receivables from related companies	9.943	2.690
Cash in hand and at bank	22.426	18.799
	1.637.176	1.034.700

TOTAL ASSETS	89.173.256	88.928.123

EQUITY AND LIABILITIES
Capital and reserves
Share capital	11.903.113	11.903.113
Reserves	54.055.722	54.539.162
	65.958.835	66.442.275
Minority interest	3.737.041	3.779.259

Total equity	69.695.876	70.221.534

Long term liabilities
Borrowing	3.153.060	2.928.699
Deferred tax liabilities	10.245.810	10.248.980
	13.398.870	13.177.679
Short term liabilities
Trade and other creditors	3.035.682	2.406.313
Amounts payable to related companies	193.059	102.215
Bank overdrafts	1.735.087	1.360.758
Borrowing	1.061.748	1.596.990
Current tax liabilities	52.934	62.634
	6.078.510	5.528.910

Total liabilities	19.477.380	18.706.589

TOTAL EQUITY AND LIABILITIES	89.173.256	88.928.123