Keo PLC — Annual Report 2019

Jun 16, 2020

EXTRACT FROM ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Contents

	Page
Statement of Profit or Loss and Other Comprehensive Income	$1 - 2$
Statement of Financial Position

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019

		Group		Company
	2019	2018	2019	2018
	€000	€000	$\epsilon$ 000	€000
Turnover	56.018	54.356	57.092	55.210
Cost of sales	(35.989)	(33.560)	(37.756)	(34.841)
Gross profit	20.029	20.796	19.336	20.369
Other operating income	476	284	431	244
Selling and distribution expenses	(11.815)	(12.046)	(11.757)	(11.977)
Administration expenses	(3.053)	(3.459)	(2.959)	(3.403)
Other operating expenses	(43)	(45)	(43)	(43)
Profit from operations	5.594	5.530	5.008	5.190
Investment income	841	1.191	858	1.235
Profit on investment properties revaluation	345	105
Finance (cost)/income, net	(155)	130	(145)	207
Profit before tax	6.625	6.956	5.721	6.632
Taxation	(837)	(581)	(709)	(815)
Net profit for the year	5.788	6.375	5.012	5.817

Other comprehensive income for the year

Items that may be reclassified to the profit or loss in subsequent periods
Exchange differences on translating foreign operations	(2)	(2)
Items that will be never be reclassified to the profit or
loss in subsequent periods
Loss on revaluation of investments held at fair value
through other comprehensive income	(2.088)	(920)	(2.088)	(920)
Profit on revaluation of Property, plant and equipment		779
Deferred taxation	$\overline{\phantom{a}}$	(160)
Other comprehensive (cost)/income for the year, net of
taxation	(2.090)	(303)	(2.088)	(920)
Total comprehensive income for the year	3.698	6.072	2.924	4.897

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 (Cont'd)

	Group		Company
	2019	2018	2019	2018
	€000	$\epsilon$ 000	$\epsilon$ 000	$\epsilon$ 000
47.90
Net profit for the year attributable to:
Owners of the Company	5.788	6.375	5.012	5.817
Non - controlling interests
	5.788	6.375	5.012	5.817
Total comprehensive income for the year attributable to:
Owners of the Company Non - controlling interests	3.698	6.072	2.924	4.897
	3.698	6.072	2.924	4.897
Basic profit per share (cent)	13,7	15,1

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019

	Group		Company
	2019	2018	2019	2018
	$\epsilon$ 000	€000	$\epsilon$ 000	€000
ASSETS
$Non$ – current assets
Property, plant and equipment	16.813	14.544	16.311	14.173
Investment property	26.140	25.795	12.220	12.220
Intangible assets	75	99	48	77
Deferred Tax	174	238	$\overline{\phantom{m}}$
Investments held at fair value through other comprehensive income	10.561	12.649	10.561	12.649
Investment in subsidiaries			3.906	3.906
Finance lease receivable	1.405	1.361	1.405	1.361
Amounts due from subsidiaries			1.749	1.716
Right of use asset	1.047		1,047
Trade and other receivables		1.220		1.220
Total non - current assets	56.215	55.906	47.247	47.325
Current Assets
Inventories	13.921	13.701	12.704	12.467
Finance lease receivable	38	19	38	19
Trade and other receivables	12.142	12.023	12.106	11.793
Amounts due from subsidiaries			1.292	1.610
Cash at bank and in hand	10.612	7.991	10.534	7.913
Total current assets	36.713	33.734	36.674	33.802
Total assets	92.928	89.640	83.921	81.127
EQUITY AND LIABILITIES
Equity
Share capital	18.139	16.012	18.139	16.012
Reserves	56.440	56.407	49.080	49.821
Equity attributable to owners of the Company	74.579	72.419	67.219	65.833
Non - controlling interests	29	29
Total equity	72.608	72.448	67.219	65.833
Non - current liabilities
Borrowings	4.249	4.005	4.249	4.005
Finance lease payable	558		558
Deferred tax	3.551	3.513	1.359	1.386
Total non - current liabilities	8.358	7.518	6.166	5.391
Current liabilities
Trade and other payables	7.782	8.192	7.475	7.535
Special contribution for defence on deemed dividend distribution		191		191
Bank overdrafts	3	69	3	69
Amounts due to subsidiaries	$\blacksquare$		881	886
Borrowings	1.714	1.197	1.714	1.197
Finance lease payable	315		315
Taxation	148	25	148	25
Total current liabilities	9.962	9.674	10.536	9.903
Total liabilities	18.320	17.192	16.702	15.294

The above statements are true extracts from the Annual Report and Financial Statements of KEO PLC which have been prepared in Greek and have been approved by the Board of Directors on 16 June 2020.

لمد

George Hiletis Company Secretary