Mallouppas & Papacostas Public CO LTD

UNAUDITED CONDENSED INTERIM CONSOLIDATED PROFIT AND LOSS ACCOUNT

	Half year ended
	30 June 2017	30 June 2016
	€	€
Turnover	17.075.822	17.248.820
Cost of sales	(10.045.720)	(10.220.826)
Gross profit	7.030.102	7.027.994
Other income	133.522	92.443
Other profit/(loss) – net	17.780	(198.883)
Administrative expenses	(1.153.485)	(1.165.524)
Selling and marketing expenses	(5.772.145)	(5.729.972)
Profit from operations	255.774	26.058
Finance cost	(186.799)	(209.024)
Profit/(Loss) before taxation	68.975	(182.966)
Taxation	(2.003)	(2.200)
Profit/(Loss) for the period	66.972	(185.166)
Attributable to:
Company's shareholders	68.101	(184.080)
Minority interest	(1.129)	(1.086)
	66.972	(185.166)

Profit/(Loss) per share attributable to the Company's shareholders (cent per share):
Basic and fully diluted	0.16	(0.43)

Exchange differences Profit at fair value of investments available for sale	190 1.913	250 7.930
Profit/(Loss) for the period	66.972	(185.166)
	Half year ended 30 June 2017 €	30 June 2016 €

	30 June 2017	31 December 2016
	€	€
ASSETS
NON CURRENT ASSETS
Property, plant and equipment	7.989.709	7.804.941
Intangible assets	54.303	40.732
Investment in property	18.734.561	18.734.561
Financial assets available for sale	110.454	108.541
	26.889.027	26.688.775
CURRENT ASSETS
Stock-Finished products	5.766.856	4.574.301
Stock- Property for trading and development	2.476.252	2.474.322
Trade and other receivables	2.063.664	1.747.227
Cash available and cash equivalents	162.823	421.907
	10.469.595	9.217.757

TOTAL ASSETS	37.358.622	35.906.532
EQUITY AND LIABILITIES
CAPITAL AND RESERVES
Share capital	14.691.694	14.691.694
Reserves	3.950.635	3.880.431
Equity attributable to the Company's shareholders	18.642.329	18.572.125
Minority interest	343.744	344.873

Total equity	18.986.073	18.916.998
NON-CURRENT LIABILITIES
Borrowing	5.151.160	5.025.506
Deferred tax liabilities	1.017.582	1.017.582
	6.168.742	6.043.088

CURRENT LIABILITIES
Bank overdrafts	5.671.788	4.353.638
Borrowings	1.672.975	1.759.716
Trade and other creditors	4.834.763	4.805.741
Current tax liabilities	24.281	27.351
	12.203.807	10.946.446
Total liabilities	18.372.549	16.989.534

TOTAL EQUITY AND LIABILITIES	37.358.622	35.906.532

	Half year ended
	30 June 2017 €	30 June 2016 €
Cash flow from operations prior to the changes in working capital	763.729	779.413
Changes in working capital
Stock	(1.194.485)	(1.732.435)
Trade and other receivables	(316.437)	(453.093)
Trade and other creditors	29.022	450.071
Cash flow from operations	(718.171)	(956.044)
Interest paid	(186.799)	(209.024)
Tax paid	(5.073)	(2.568)
Net cash flow from operations	(910.043)	(1.167.636)
Cash flow from investing activities
Payments for the purchase of property, plant and equipment	(715.920)	(249.246)
Payments for the purchase of intangible assets	(21.200)	(8.202)
Receipts from the sale of assets	28.016	21.002
Net cash flow for investing activities	(706.104)	(236.446)
Cash flow used for financing activities
Receipts from new loans	905.101	-
Repayment of long-term loans	(866.188)	(798.586)
	38.913	(798.586)
Net (decrease)/increase in cash and cash equivalents	(1.577.234)	(2.202.668)
Cash and cash equivalents at beginning of period	(3.931.731)	(3.514.478)
Cash and cash equivalents at end of period	(5.508.965)	(5.717.146)

Cash and cash equivalents comprise:
Cash in hand and at bank	162.826	244.600
Bank overdrafts	(5.671.788)	(5.961.746)
	(5.508.965)	(5.717.146)