Mallouppas & Papacostas Public CO LTD

Quarterly Report • Aug 28, 2015

UNAUDITED CONDENSED INTERIM CONSOLIDATED PROFIT AND LOSS ACCOUNT

	Half year ended
	30 June 2015 €	30 June 2014 €
Turnover	16.314.368	18.201.137
Cost of sales	(9.801.275)	(10.857.543)
Gross profit	6.513.093	7.343.594
Other income	208.016	389.081
Other profit/(loss) – net	16.604	(1.221.406)
Administrative expenses	(1.165.368)	(1.022.706)
Selling and marketing expenses	(5.363.062)	(5.320.571)
Profit from operations	209.283	167.992
Finance cost	(356.464)	(417.631)
Loss before taxation	(147.181)	(249.639)
Taxation	(2.634)	(299)
Loss for the period	(149.815)	(249.938)
Attributable to:
Company's shareholders	(148.661)	(248.857)
Minority interest	(1.154)	(1.081)
	(149.815)	(249.938)
Loss per share attributable to the Company's shareholders (cent per share):	(0.34)	(0.58)

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF TOTAL INCOME

	Half year ended 30 June 2015 30 June 2014
	€	€
Loss for the period	(149.815)	(249.938)
Exchange differences	-	455
(Loss)/Profit at fair value of investments available for sale	(9.531)	14.378
Total loss for the period	(159.346)	(235.105)

UNAUDITED CONDENSED INTERIM BALANCE SHEET

		Half year ended
	30 June 2015	30 June 2014
	€	€
ASSETS
NON CURRENT ASSETS
Property, plant and equipment	8.712.768	8.409.227
Intangible assets	57.997	46.594
Investment in property Financial assets available for sale	24.606.658 103.411	24.606.658 112.972
	33.480.834	33.175.451
CURRENT ASSETS
Stock-Finished products	6.416.950	5.725.794
Stock- Property for trading and development	2.950.096	2.950.096
Trade and other receivables	2.540.601	1.915.956
Cash available and cash equivalents	312.589	1.321.873
	12.220.236	11.913.719
TOTAL ASSETS	45.701.070	45.089.170
EQUITY AND LIABILITIES
CAPITAL AND RESERVES
Share capital	14.691.694	14.691.694
Reserves	8.434.326	8.593.201
Equity attributable to the Company's shareholders	23.126.020	23.284.895
Minority interest	347.998	349.152
Total equity	23.474.018	23.634.047
NON-CURRENT LIABILITIES
Borrowings	7.465.229	8.544.265
Deferred tax liabilities	1.830.965 9.296.194	1.831.030 10.375.295
CURRENT LIABILITIES
Bank overdrafts	5.888.060	3.904.484
Borrowings	1.625.513	1.093.440
Trade and other creditors	5.365.062	6.042.750
Current tax liabilities	52.223	39.154
	12.930.858	11.079.828
Total liabilities	22.227.052	21.455.123
TOTAL EQUITY AND LIABILITIES
	45.701.070	45.089.170

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

	Half year ended
	30 June 2015 €	30 June 2014 €
Cash flow from operations prior to the changes in working capital	734.575	2.045.950
Changes in working capital
Trade and other receivables	(624.645)	(704.136)
Stock	(691.156)	(405.509)
Trade and other creditors	(677.690)	(624.656)
Cash flow (for) / from operations	(1.258.916)	311.649
Interest paid	(337.938)	(417.629)
Tax paid	10.370	(28.983)
Net cash flow from operations	(1.586.484)	(134.963)
Cash flow from investing activities
Interest collected	79	7.752
Payments for the purchase of property, plant and equipment	(891.228)	(317.524)
Payments for the purchase of intangible assets	(20.105)	-
Receipts from the sale of property, plant and equipment	51.841	2.545
Net cash flow for investing activities	(859.413)	(307.227)
Cash flow from financing activities
Receipts from the drafting of new medium-term loans	-	750.000
Repayment of long-term loans	(546.963)	(1.085.955)
Net cash flow used for financing activities	(546.963)	(335.955)
Net (decrease)/increase in cash and cash equivalents	(2.992.860)	(778.145)
Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period	(2.582.611)	(2.019.689)
	(5.575.471)	(2.797.834)
Cash and cash equivalents comprise:
Cash in hand and at bank	312.589	2.277.584
Bank overdrafts	(5.888.060)	(5.075.418)
	(5.575.471)	(2.797.834)