Salamis Tours (Holdings) Public LTD

	30/06/2017 €	30/06/2016 €
Turnover	17.968.111	17.161.253
Cost of sales	(13.985.484)	(12.936.430)
Gross profit	3.982.627	4.224.823
Administrative expenses	(2.144.827)	(2.003.964)
Sales expenses	(143.157)	(139.606)
Depreciation	(871.245)	(924.938)
	(3.159.229)	(3.068.508)
Profit from operating activities	823.398	1.156.315
Other income	55.032	66.679
Net finance costs	(572.400)	(54.749)
Profit before taxation	306.030	1.168.245
Taxation	(199.041)	(102.274)
Net profit for the period	106.989	1.065.971
Allocated to:
Shareholders of the parent company	226.896	910.560
Minority interest	(119.907)	155.411
	106.989	1.065.971

	cents	cents
Basic and fully diluted earnings per share	0.62	2.49

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	30/06/2017 €	30/06/2016 €
Net profit for the period	106.989	1.065.971
Other comprehensive income / (costs)	5.889	-
Comprehensive income for the period	112.878	1.065.971
Comprehensive income allocated to:
Shareholders of parent company	232.785	910.560
Minority interest	(119.907)	155.411
	112.878	1.065.971

ASSETS	30/06/2017 €	31/12/2016 €
Non-Current Assets
Property, vessels, plant and equipment	14.826.825	11.368.739
Financial assets
available for sale	2.157.964	2.152.075
Loan to an associated company	341.720	341.720
	17.326.509	13.862.534
Current assets
Inventories	500.800	195.198
Trade and other receivables	3.723.215	8.951.914
Cash at bank and in hand		16.815.818 10.863.258
	21.039.833	20.010.370
Total assets	38.366.342	33.872.904
EQUITY AND LIABILITIES
Capital and reserves
Share capital	15.707.529	15.707.529
Reserves	12.557.682 12.324.897
Equity attributable to the shareholders	28.265.211	28.032.426
Minority interest	(56.790)	63.117
Total equity	28.208.421	28.095.543
Non short-term liabilities
Trade and other creditors	719.766	719.766
Deferred tax liabilities	809.863	807.863
	1.529.629	1.529.629
Short-term liabilities
Trade and other creditors	7.681.617	4.134.752
Borrowings	719.783	68.799
Current tax liabilities	201.625	18.914
Dividend payable	25.267	25.267
	8.628.292	4.247.732
Total liabilities	10.157.921	5.777.361
Total equity and liabilities	38.366.342	33.872.904

	Share capital €	Issue of shares at a premium €	Fair value reserves €	Accumulated profits €	Minority interest Total € €
Balance as at 1 January 2016	15.707.529	937.067	2.242.726	2.866.227	(39.230) 21.714.319
Changes in equity for the period:
Dividends payable	-	-	-	(524.833)	- (524.833)
Comprehensive income for the period	-	-	-	910.560	155.411 1.065.971
Balance as at 30 June 2016	15.707.529	937.067	2.242.726	3.251.954	116.181 22.255.457
Balance as at 1 January 2017	15.707.529	937.067	2.251.865	9.135.965	63.117 28.095.543
Changes in equity for the period:
Revaluation of investments	-	-	5.889		- -
Comprehensive income for the period	-	-	-	226.896	(119.907) 106.989
Balance as at 30 June 2017	15.707.529	937.067	2.257.754	9.362.861	(56.790) 27.208.421

	30/06/2017 €	30/06/2016 €
Profit before taxation	306.030	1.168.245
Adjustments for:
Depreciation	871.245	924.938
Unrealised foreign exchange loss	165.134	15.919
Interest receivable	(46.092)	(33.225)
Interest payable	30.181	24.781
Gain on the sale of fixed assets	(1.914)	(18.749)
Cash flow before changes in working capital	1.324.584	2.081.909
(Increase) decrease in inventories	(305.602)	38.247
Decrease (increase) in trade and other debtors	5.228.699	(1.265.704)
Increase in trade and other creditors	3.546.865	3.087.884
Cash flow from operating activities before taxation	9.794.546	3.942.336
Taxation
Tax paid	(16.330)	(31.270)
Net cash flow from operating activities	9.778.216	3.911.066
Investing activities
Purchase of fixed assets	4.331.965	(177.600)
Purchase of financial assets	-	(325.000)
Proceeds from the disposal of fixed assets	4.548	20.049
Interest received	46.092	33.225
Cash flow for investing activities	(4.281.325	(449.326)
Financing activities
Net loan payments	-	(250.000)
Interest paid	(30.181)	(24.781)
Payment of dividends	-	(610.344)
Cash flow for financing activities	(30.181)	(885.125)
Net inflow of cash	5.466.710	2.576.615
Cash and cash equivalents at beginning of period	10.794.459	7.942.423
Impact of changes in exchange rates on cash and cash equivalents	165.134	(15.919)
Cash and cash equivalents at end of period		16.096.035 10.503.119