Options: Final results 2007 – Board meeting on 9/5 for
capital
Options Cassoulides Plc announces that at the meeting held on April 22,
2008 at 16.00 at the Company’s Head Office, the Board of Directors decided the
following:
1. Examined and approved the audited consolidated
financial statements for the year ended December 31, 2007 (attached).
2. Decided that the Annual General Meeting will take
place on June 26, 2008 at 16.00 at the Company’s office (24-32 Mich. Paridi, 1041 Nicosia).
3. After examining the three-year Strategic Plan, which
will be presented in its final form to the Board of Directors in a month and to
the investing public in two months and taking into account its provisions for
the strengthening and expansion of the Group’s activities abroad, it decided to
propose to the AGM the non-payment of a dividend for 2007.
4. The Board of Directors will continue the talks on
capital issues on Friday, May 9, 2008 at 16.00.
OPTIONS CASSOULIDES LTD
Profit and loss account
|
2007 |
2006 |
||||
|
Sales |
|
|
21.618.402 |
19.085.198 |
|
|
Cost of sales |
|
|
(16.026.671) |
(12.966.091) |
|
|
Gross profit |
|
|
5.591.731 |
6.119.107 |
|
|
Other operating income |
|
|
1.923.239 |
252.155 |
|
|
|
|
|
|
||
|
Other operating expenses |
(88.039) |
(34.611) |
|||
|
Selling and distribution expenses |
(3.014.127) |
(2.318.485) |
|||
|
Administrative expenses |
|
|
|
(2.632.828) |
(2.250.951) |
|
Profit from operations before finance cost |
1.779.976 |
1.767.215 |
|||
|
Finance income |
|
58.084 |
79.943 |
||
|
Finance cost |
|
(716.681) |
(439.439) |
||
Net finance cost
|
|
|
(658.597) |
(359.496) |
|
|
|
|
|
|
|
|
|
Share of profit of associated companies |
|
|
|
22.487 |
193.458 |
|
|
|
|
|
|
|
|
Profit before taxation |
|
|
|
1.143.866 |
1.601.177 |
|
Taxation |
|
|
|
(189.102) |
(220.306) |
|
|
|
|
|
|
|
|
Profit for the year |
|
|
954.764 |
1.380.871 |
|
|
|
|
|
|
||
|
Attributable to: |
|
|
|
||
|
Shareholders of holding company |
|
|
|
808.534 |
1.332.183 |
|
Minority interest |
|
|
|
146.230 |
48.688 |
|
|
|
|
|
954.764 |
1.380.871 |
|
Earnings per share (basic and fully diluted) |
|
|
|
1,74 |
2,87 |
Balance sheet
|
|
2007 £ |
2006 £ |
||
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
Non
current assets |
|
|
|
|
|
Property, plant and equipment |
|
9.584.223 |
9.397.952 |
|
|
Investment property |
|
3.031.718 |
490.000 |
|
|
Goodwill |
|
3.656.521 |
3.679.004 |
|
|
Investments in associated
companies |
|
691.920 |
1.908.842 |
|
|
Investments available for sale |
|
196.507 |
712.770 |
|
|
Investments held to maturity |
|
100.000 |
- |
|
|
Deferred taxation |
|
168.145 |
33.833 |
|
|
|
|
17.429.034 |
16.222.401 |
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
||
|
Current assets
|
|
|
|
|
|
Stock |
|
669.963 |
790.841 |
|
|
Trade and other debtors |
|
9.622.632 |
7.574.778 |
|
|
Taxation refundable |
147.172 |
52.270 |
||
|
Cash in hand and at bank |
3.309.800 |
1.895.453 |
||
|
|
|
13.749.567 |
10.313.342 |
|
|
|
|
|
||
|
|
|
|
|
|
|
Total
assets |
31.178.601 |
26.535.743 |
||
|
|
|
|
||
|
Equity
and liabilities |
|
|
||
|
Capital
and reserves |
|
|
||
|
Share capital |
|
4.635.245 |
4.635.245 |
|
|
Share premium |
|
1.366.900 |
1.366.900 |
|
|
Revaluation reserves |
|
214.306 |
140.987 |
|
|
Exchange difference |
|
(417.251) |
(360.335) |
|
|
Interest consolidation reserves |
|
1.735.302 |
1.735.302 |
|
|
Equity
reserve |
|
(109.579) |
(159.695) |
|
|
Profit and loss account reserve |
|
4.543.428 |
4.522.925 |
|
|
|
|
11.968.351 |
11.881.329 |
|
|
|
|
|
||
|
Minority interest |
|
627.387 |
461.845 |
|
|
|
|
12.595.738 |
12.343.174 |
|
|
|
|
|
||
|
|
|
|
|
|
|
Non current
liabilities |
|
|
||
|
Interest bearing borrowing |
|
5.579.850 |
5.539.813 |
|
|
Deferred taxation |
|
502.673 |
233.046 |
|
|
|
|
6.082.523 |
5.772.859 |
|
|
|
|
|
||
|
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
Bank overdrafts |
|
1.654.066 |
406.863 |
|
|
Trade and other creditors |
9.615.689 |
6.783.743 |
||
|
Taxation due |
|
53.095 |
62.360 |
|
|
Interest bearing borrowing |
|
1.177.490 |
1.166.744 |
|
|
|
12.500.340 |
8.419.710 |
||
|
|
|
|
|
|
|
Total
liabilities |
18.582.863 |
14.192.569 |
||
|
|
|
|
|
|
|
Total
equity and liabilities |
31.178.601 |
26.535.743 |
||
|
|
|
|
|
|