Logicom Public LTD — Interim / Quarterly Report 2014

Aug 1, 2014

Period ended June 30, 2014

	Period from	Period from	Year ended
	January 1	January 1	December 31
	to June 30	to June 30
	2014	2013	2013
	€	€	€
Sales	290.872.421	230.679.219	489.684.478
Cost of sales	(271.289.948)	(212.643.500)	(453.067.264)
Gross profit	19.582.473	18.035.719	36.617.214
Other income	813.356	470.437	1.192.168
Administrative expenses	(13.764.281)	(14.165.802)	(27.262.824)
Profit from operating activities	6.631.548	4.340.354	10.546.558
Exchange difference	(89.570)	(284.519)	(346.927)
Interests receivable	77.148	352.335	476.412
Interests payable and bank expenses	(2.855.712)	(2.661.054)	(5.355.966)
Net finance cost	(2.868.134)	(2.593.238)	(4.532.627)
Share of (loss)/ profit of associated company
after taxation	(208.599)	91.883	296.319
Profit before taxation	3.554.815	1.655.233	5.717.098
Taxation	(401.232)	(184.468)	(1.057.866)
Profit for the period	3.153.583	1.470.765	4.659.232
Other total income
Deficit from revaluation of land and building activities	-	-	(318.746)
Surplus from revaluation of investments in shares available for sale	171.086	(152.853)	1.221.891
Exchange difference from conversion and consolidation of financial statements of companies abroad	(1.227.010)	(184.449)	(1.953.883)
Exchange difference in relation to the offset of Net investment in a foreign operation	176.526	(264.228)	820.242
Deferred taxation resulted from net exchange differences in relation to foreign activities	7.088	16.011	32.933
Deferred taxation from revaluation of land and building	66.439	5.067	132.879
Total expenses for the year after taxation
	(805.871)	(580.452)	(46.684)
Total income for the period	2.347.712	890.313	4.612.548
Profit attributable to:
Shareholders of the Company	3.221.411	1.507.518	4.755.495
Minority interest	(67.828)	(36.753)	(96.263)
	3.153.540	1.470.765	4.659.232
Total income attributable to:
Shareholders of the Company	2.4151540	927.066	4.708.811
Minority interest	(67.828)	(36.753)	(96.263)
	2.347.712	890.313	4.612.548
Earnings per share	4.35 σεντ	2.03 σεντ	5.47 σεντ
Fully diluted earnings per share	4,35 σεντ	2.03 σεντ	5.47 σεντ

CONSOLIDATED BALANCE SHEET June 30, 2014

June 30	December 31
2014	2013
€	€

Assets
Property, plant and equipment	10.756.066	11.363.133
Intangible asset	9.150.233	9.195.233
Investments available for sale	4.983.427	4.692.462
Deferred taxation	2.632.345	2.472.888
Total non current assets	27.522.071	27.723.716
Trade and other debtors	118.154.304	117.769.390
Investments at fair value via the results	284.379	248.363
Tax refundable	1.528.728	1.528.728
Cash available and equivalent	23.135.102	22.932.001
Total current assets	193.234.960	192.924.276
Total assets attributable to shareholders of the company	220.757.031	220.647.992
Equity
Share capital	25.187.064	25.187.064
Reserves	35.230.750	32.881.649
Total equity attributable to
shareholders of the Company	60.417.814	58.068.713
Minority fees	(114.405)	(46.577)
Total equity	60.303.409	58.022.136
Liabilities
Long term loans	7.480.084	7.655.179
Deferred taxation	1.175.738	1.254.364
Provisions for liabilities	636.529	636.529
Total long term liabilities	9.292.351	9.546.072
Bank overdrafts	39.033.801	42.671.787
Short term loans	41.422.139	35.197.263
Current installments of long term loans	1.859.389	1.279.986
Tax payable	1.859.389	1.279.986
Total short term liabilities	151.161.271	153.079.784
Total liabilities	160.453.622	162.625.856
Total equity and liabilities	220.757.031	220.647.992