Agros Development Company "Proodos" Public LTD

Earnings Release • Aug 28, 2013

AGROS DEVELOPMENT "PROODOS" PUBLIC COMPANY LIMITED

To Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Six month results 2013

We wish to announce that at the meeting held on August 27, 2013 the Board of Directors of Agros Development "Proodos" Public Limited examined and approved the six-months results for the period ended June 30, 2013. 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 Wednesday, August 28, 2013. Copies will be available at the Company's registered office, 1 Rodou Avenue, 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 28 August 2013

By order of the Board of Directors

Notice: Cyprus Securities & Exchange Commission

CONSOLIDATED PROFIT AND LOSS ACCOUNT

For the period from January 1 to June 30,2013

	January 1	January 1 2012 to June
	2013 to June
	30	30
	2013	2012
	€	€
Turnover	914.182	1.025.016
Cost of sales	(874.874)	(964.463)
Gross profit	39.308	60.553
Administrative and selling expenses	(129.212)	(141.267)
Depreciation	(144.620)	(142.701)
Other operating expenses	(66.324)	(65.098)
(Loss) / Profit from operations
Before net finance cost	(300.848)	(288.513)
Finance income	2.479	3.325
Finance cost	(104.187)	(96.748)
Net finance cost	(101.708)	(93.423)
(Loss) / profit before taxation	(402.556)	(381.936)
Taxation	(162.068)	(13.900)
(Loss) / profit attributable to shareholders	(564.624)	(395.836)
Other total income
Diminution in deferred taxation in revaluation of
land	293	387
Total income for the period/year	(564.917)	(395,449)
Basic and fully diluted (loss) /
Earnings per share (cent)	(15,73)	(11.03)

$\sim$

CONSOLIDATED BALANCE SHEET

JUNE 30,2013

	June 30	December 31 2012
	2013
Assets	€	€
Property, plant and equipment	16.008.451	16.101.488
Total non current assets	16.008.451	16.101.488
Property for sale and development	548.315	548.315
Investments available for sale	11	11
Stock	73.934	73.263
Trade and other amounts receivable	96.478	78.932
Cash in hand and at bank	38.986	156.024
Total current assets	757.724	856.545
Total assets	16.766.175	16.958.033
Equity and liabilities
Share capital	6.139.268	6.139.268
Reserves	5.506.367	6.071.284
Total equity	11.645.635	12.210.552
Non short term liabilities
Deferred tax liabilities	1.428.698	1.266.773
Installments of long term loans	2.697.231	2.704.380
Total non current liabilities	4.125.929	3.971.153
Current liabilities
Bank overdrafts	442.237	252.604
Current installments of long term loans	313.165	313.165
Trade and other amounts payable	238.945	150.877
Current tax liabilities	264	59.682
Total current liabilities	994.611	776.328
Total liabilities	5.120.540	4.747.481
Total equity and liabilities	16.766.175	16.958.033