Logicom Public LTD — Interim / Quarterly Report 2014

May 30, 2014

LOGICOM PUBLIC LIMITED

CONSOLIDATED INCOME STATEMENT

Period ended March 31, 2014

	Period from January 1	Period from January 1	Year ended On December 31
	to March 31 2014 €	to March 31 2013 €	2013 €
Sales	142.182.810	107.625.212	490.003.718
Cost of sales	(132.450.376)	(98.807.999)	(454.086.504)
Gross profit	9.732.434	8.817.213	35.917.214
Other income	165.434	368.259	1.192.168
Administrative expenses	(6.658.131)	(7.210.918)	(27.262.824)
Profit from operating activities	3.239.737	1.974.554	9.846.558
Exchange difference	2.965	(318.347)	346.927
Interests receivable	36.210	76.896	476.412
Interests payable and bank expenses	(1.478.425)	(1.239.437)	(5.355.966)
Net finance cost	(1.439.250)	(1.480.888)	(4.532.627)
Share from profit of associated company after taxation	(143.143)	(29.406)	(296.833)
Profit before taxation	1.657.344	464.260	5.017.098
Taxation	(163.145)	(19.782)	(1.057.866)
Profit for the period	1.494.199	444.478	3.959.232
Other total income
Deficit from revaluation of land and building	-	-	(318.746)
Surplus from revaluation of investments in shares
available for sale Exchange difference from conversion and consolidation	249,373	(152.853)	1.221.891
of financial statements of companies abroad	(752.021)	600.734	(1.935.883)
Exchange difference in relation to the offset of
Net investment in a foreign operation	(3.944)	(920.988)	820.242
Deferred taxation resulted from net exchange differences in relation to foreign activities Deferred taxation from revaluation of land and	158	16.011	32.933
building	33.220	2.534	132.879
Other total expenses for the period after taxation	(473.214)	(454.562)	(46.684)
Total income for the period after
taxation	1.020.985	(10.084)	3.912.548
Profit attributable to:
Shareholders of the Company	1 .544.970	456.240	4.055.495
Minority interest	(50.771)	(11.762)	(96.263)
Total income attributable to:	1.494.199	444.478	3.959.232
Shareholders of the Company Minority interest	1.020.805 (50.771)	1.678 (11.762)	4.008.811 (96.263)
	970.034	(10.084)	3.912.548
Fully diluted earnings per share Earnings per share	2,09 cents	0.62 cents	5.47 cents
	2.09 cents	0.62 cents	5.47 cents

CONSOLIDATED BALANCE SHEET

March 31, 2014

	March 31	December 31
	2014 €	2013 €
Assets
Property, plant and equipment	11.446.470	11.363.133
Intangible asset	9.172.733	9.195.233
Investments available for sale	4.905.820	4.692.462
Deferred taxation	2.629.418	2.472.888
Total non current assets	28.154.441	27.723.716
Stock	44.199.703	51.319.697
Trade and other debtors	121.890.176	117.769.390
Investments in fair value via the results	284.379	248.363
Tax refundable	1.377.313	654.825
Cash and cash equivalent	27.514.603	22.932.001
Total current assets	195.266.174	192.924.276
Total assets attributable to
shareholders of the Company	223.420.615	220.647.992
Equity
Share capital	25.187.064	25.187.064
Reserves	33.707.780	32.788.495
Total equity attributable to shareholders of the
Company	58.894.844	57.975.559
Minority interest	97.348	46.577
Total equity	58.992.192	58.022.136
Liabilities
Long term loans	13.287.783	7.655.179
Deferred taxation	1.365.868	1.254.364
Provisions for liabilities	636.529	636.529
Total long term liabilities	15.290.180	9.546.072
Trade and other creditors	64.351.829	65.746.429
Bank overdrafts	35.505.413	42.671.787
Short term loans	42.863.085	35.197.263
Current installments of long term loans	3.833.509	7.679.363
Tax payable	2.079.451	1.279.986
Provisions for liabilities	504.956	504.956
Total short term liabilities	149.138.243	153.079.784
Total liabilities	164.428.423	162.625.856
Total equity and liabilities	223.420.615	220.647.992