Options: Nine-month
results 2007 – EGM on 20/12 for conversion of capital into euros – Appointment
of Board member
Options Cassoulides Plc would like to inform the investing public
that at the meeting held on November 27, 2007 at 4.00 pm at the Company’s
office, the Board of Directors decided the following:
1. Approved the unaudited consolidated financial statements for the period
ended September 30, 2007 (attached).
2. Decided to hold an
Extraordinary General Meeting on December 20, 2007 at 11.00 am at the Company’s
Head Office to approve the re-expression of the share capital from Cyprus
pounds to euros, pursuant to law 33(1) 2007, article 18(1) and the rounding of
the nominal value of the share based on article 5 of the European Directive.
3. Decided to appoint
Mr. Akis Gregoriou as new
Board member. Mr. Gregoriou
is Chairman of the Board of Directors of the Grammar School and member of the
Board of Directors of the
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Nine
months ended September
30 |
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2007 £ |
2006 £ |
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Sales |
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15.971.575 |
15.233.090 |
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Cost of
sales |
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(11.357.275) |
(10.613.331) |
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__________ |
__________ |
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Gross profit |
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4.614.300 |
4.619.759 |
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Other
operating income |
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302.407 |
223.863 |
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Selling,
administrative and distribution expenses |
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(3.699.129) |
(3.292.270) |
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__________ |
__________ |
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Profit from operations |
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1.217.578 |
1.551.352 |
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Finance
income |
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79.530 |
75.362 |
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Finance
cost |
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(405.265) |
(227.781) |
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Share of
profit of associated companies |
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23.252 |
52.927 |
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__________ |
__________ |
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Profit
before taxation |
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915.095 |
1.451.860 |
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Taxation |
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(81.505) |
(173.528) |
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__________ |
__________ |
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Profit after taxation |
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833.590 |
1.278.332 |
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Minority
interest |
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(90.184) |
(75.187) |
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Net profit for the period |
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743.406 |
1.203.145 |
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========= |
========= |
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cents |
cents |
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Earnings
per share (cent) Basic and
readjusted |
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1,6 |
2,6 |
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========= |
========= |
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Consolidated
balance sheet
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September 30 2007 |
December 31 2006 |
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£ |
£ |
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Assets |
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Non current assets |
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Property, plant and equipment |
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11.330.216 |
9.397.952 |
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Investment property |
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490.000 |
490.000 |
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Goodwill |
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3.549.418 |
3.679.004 |
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Investments in associated
companies |
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1.516.270 |
1.908.842 |
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Investments available for sale
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630.271 |
712.770 |
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Deferred taxation |
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33.833 |
33.833 |
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___________ |
___________ |
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17.550.008 |
16.222.401 |
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___________ |
___________ |
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Current assets |
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Stock |
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809.735 |
790.841 |
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Trade and other debtors |
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9.42.757 |
7.574.778 |
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Tax refundable |
126.047 |
52.270 |
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Cash and cash equivalents |
1.324.885 |
1.895.453 |
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___________ |
___________ |
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11.682.424 |
10.313.342 |
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___________ |
___________ |
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Total assets |
29.232.432 |
26.535.743 |
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=========== |
=========== |
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Equity and liabilities |
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Capital and reserves |
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Share capital |
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4.635.245 |
4.635.245 |
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Share premium |
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1.366.900 |
1.366.900 |
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Fair value reserves |
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246.604 |
140.987 |
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Exchange difference |
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(395.512) |
(360.335) |
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Consolidated reserves |
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1.735.302 |
1.735.302 |
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Own shares reserve |
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(155.966) |
(159.695) |
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Profit and loss reserves |
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4.478.300 |
4.522.925 |
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___________ |
___________ |
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11.910.873 |
11.881.329 |
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Minority interest |
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796.750 |
461.845 |
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___________ |
___________ |
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12.707.623 |
12.343.174 |
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___________ |
___________ |
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Non current liabilities |
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Interest bearing borrowing |
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5.938.887 |
5.539.813 |
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Deferred taxation |
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233.046 |
233.046 |
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___________ |
___________ |
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6.171.933 |
5.772.859 |
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___________ |
___________ |
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Current liabilities |
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Bank overdrafts |
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1.302.513 |
406.863 |
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Trade and other creditors |
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7.829.473 |
6.783.743 |
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Taxation due |
88.980 |
62.360 |
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Interest bearing borrowing |
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1.131.910 |
1.166.744 |
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___________ |
___________ |
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10.352.876 |
8.419.710 |
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___________ |
___________ |
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Total liabilities |
16.524.809 |
14.192.569 |
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___________ |
___________ |
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Total equity and liabilities |
29.232.432 |
26.535.743 |
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=========== |
=========== |
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