Options:
Six-month results 2008 - CGC
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Cassoulides Plc announces that at the meeting held on
August 26, 2008, the Board of Directors examined and approved the unaudited
consolidated financial statements for the period ended June 30, 2008.
The Board
of Directors also approved the Interim Management Statement.
The
results will be published in newspapers Machi and Simerini on August 28, 2008. The results will not be posted to the
shareholders but will be available at the Company’s Head Office, (24-32
The
Board of Directors assessed the Audit Committee’s needs and appointed Mr. Lambros Christofi as fourth Board
member.
CONSOLIDATED PROFIT AND LOSS ACCOUNT
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Six months ended June 30 |
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2008 € |
2007 € |
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Sales |
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24.632.181 |
20.061.843 |
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Cost of sales |
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(18.410.666) |
(14.186.183) |
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__________ |
__________ |
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Gross profit |
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6.221.515 |
5.875.660 |
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Other operating income |
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90.393 |
214.072 |
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Other operating expenses |
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(8.472) |
(120.706) |
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Selling,
distribution and administrative expenses |
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(4.907.804) |
(4.279.744) |
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__________ |
__________ |
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Profit from operations |
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1.395.632 |
1.689.282 |
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Finance income |
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44.437 |
117.400 |
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Finance cost |
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(513.724) |
(497.779) |
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Share of profit of associated companies |
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(2.607) |
43.101 |
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__________ |
__________ |
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Profit before taxation |
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923.738 |
1.352.004 |
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Taxation |
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(737.184) |
(155.234) |
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__________ |
__________ |
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Profit for the period |
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186.554 |
1.196.770 |
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========= |
========= |
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Attributable to: |
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Shareholders of holding company |
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36.198 |
1.039.907 |
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Minority interest |
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150.356 |
156.863 |
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__________ |
__________ |
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186.554 |
1.196.770 |
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========= |
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Earnings per share: |
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Basic and
readjusted (cent) |
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0,08 |
2,24 |
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========= |
========= |
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CONSOLIDATED BALANCE SHEET
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June 30 2008 |
December 31 2007 |
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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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15.951.639 |
16.375.617 |
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Investment property |
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5.179.998 |
5.179.998 |
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Goodwill |
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6.181.591 |
6.247.537 |
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Investments in
associated companies |
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1.179.609 |
1.182.216 |
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Investments
available for sale |
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823.288 |
335.752 |
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Investments held
to maturity |
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170.860 |
170.860 |
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Deferred taxation |
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287.293 |
287.293 |
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___________ |
___________ |
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29.774.278 |
29.779.273 |
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___________ |
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Current assets |
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Stock |
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1.663.676 |
1.144.700 |
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Trade and other
debtors |
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15.265.263 |
16.441.243 |
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Tax refundable |
241.233 |
251.458 |
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Cash in hand and
at bank |
3.270.660 |
5.655.129 |
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___________ |
___________ |
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20.440.832 |
23.492.530 |
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___________ |
___________ |
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Total assets |
50.215.110 |
53.271.803 |
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Equity and liabilities |
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Capital and reserves |
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Share capital |
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7.880.308 |
7.919.786 |
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Redenomination of
capital reserve |
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39.478 |
-- |
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Share premium |
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2.335.487 |
2.335.487 |
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Revaluation
reserve |
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600.007 |
366.164 |
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Exchange
difference reserve |
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(690.665) |
(712.916) |
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Interest
consolidation reserve |
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2.964.940 |
2.964.940 |
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Own shares reserve
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(171.342) |
(187.227) |
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Profit and loss
reserve |
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7.785.516 |
7.762.908 |
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___________ |
___________ |
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20.743.729 |
20.449.142 |
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Minority interest |
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1.327.450 |
1.071.954 |
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___________ |
___________ |
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22.071.179 |
21.521.096 |
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Non current liabilities |
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Interest bearing
borrowing |
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10.036.660 |
9.533.740 |
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Deferred taxation |
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858.868 |
858.868 |
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___________ |
___________ |
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10.895.528 |
10.392.608 |
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___________ |
___________ |
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Current liabilities |
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Bank overdrafts |
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1.284.036 |
2.826.140 |
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Trade and other
creditors |
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11.718.661 |
16.429.380 |
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Taxation due |
804.383 |
90.718 |
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Interest bearing
borrowing |
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3.441.323 |
2.011.861 |
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___________ |
___________ |
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17.248.403 |
21.358.099 |
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___________ |
___________ |
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Total liabilities |
28.143.931 |
31.750.707 |
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___________ |
___________ |
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Total equity and liabilities |
50.215.110 |
53.271.803 |
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