Agros Development Company "Proodos" Public LTD

Earnings Release • Aug 28, 2015

AGROS DEVELOPMENT "PROODOS" PUBLIC COMPANY LIMITED

To Cyprus Stock Exchange Nicosia

ANNOUNCEMENT

Six month results 2015

We wish to announce that at the meeting held on August 27, 2015 the Board of Directors of Agros Development "Proodos" Public Limited examined and approved the six-months results for the period ended June 30, 2015. 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 Friday, Aygust 28th, 2015. 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 28 August 2015

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 30,2015

	January 1	January 1
	2015 to June	2014 to June
	30	30
	2015	2014
	€	€
Turnover	889.632	781.389
Cost of sales	(741.831)	(736.409)
Gross profit	147.801	44.980
Administrative and selling expenses	(128.780)	(131.467)
Depreciation	(123.751)	(124.079)
Other operating expenses	(58.822)	(59.421)
(Loss) / Profit from operations
Before net finance cost	(163.552)	(269.987)
Finance income	$\Omega$	17
Finance cost	(92.542)	(102.415)
Net finance cost	(92.542)	(102.398)
(Loss) / profit before taxation	(256.094)	(372.385)
Taxation	(77.921)	(244.998)
(Loss) / profit attributable to shareholders	(334.015)	(617.383)
Other total income
Diminution in deferred taxation in revaluation of
land	60.201	(77.325)
Total income for the period/year	(273.814)	(694.708)
Basic and fully diluted (loss) /
Earnings per share (cent)	(9.30)	(17.20)

CONSOLIDATED BALANCE SHEET

JUNE 30,2015

	June 30	December 31
	2015	2014
Assets	€	€
Property, plant and equipment	11.056.085	11.157.150
Total non current assets	11.056.085	11.157.150
Property for sale and development	549.315	549.315
Investments available for sale	11	11
Stock	75.362	75.423
Trade and other amounts receivable	100.238	106.738
Cash in hand and at bank	20.253	25.155
Total current assets	745.179	756.642
Total assets	11.801.264	11.913.792
Equity and liabilities
Share capital	6.139.268	6.139.268
Reserves	955.537	1.229.351
Total equity	7.094.805	7.368.619
Non short term liabilities
Deferred tax liabilities
Installments of long term loans	1.187.888	1.170.235
Total non current liabilities	2.375.334	2.385.369
	3.563.222	3.555,604
Current liabilities
Bank overdrafts	597.620	476.668
Current installments of long term loans	313.165	327.189
Trade and other amounts payable	232.188	185.600
Current tax liabilities	264	112
Total current liabilities	1.143.237	989.569
Total liabilities	4.706.459	4.545.173
Total equity and liabilities	11.801.264	11.913.792