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Hadjiioannou Farm: Indicative results 2012

At the meeting held on Thursday, 28/2/2013, the Board of Directors of Renos Hadjiioannou Farm Public Company Ltd examined and approved the indicative results for the year ended 31/12/2012. The results have not been audited by the external auditors of the Company but have been prepared under the same accounting standards.

The sales stood at €685.545 showing great decline compared to €1,074,087 in 2011. The after tax loss stood at €1.462.964 compared to profits of €150,815 in 2011. The loss per share stood at 0.049 cents per share compared to a profit of 0.005 cents per share in 2011. The results show profit exclusively from the return of interests that had been overcharged in the previous years. In 2012, there was no return of interests, the goodwill was written off, the provisions for bad debts increased and depreciations did not drop with the decline in the turnover.

The Company’s liquidity is still bad and hence the Company operates poorly. The Board of Directors is not in a position to make a forecast for 2013, if it returns to normal operation. It expects that the agreement with a bank will be a positive impact.

The indicative results will be published in a daily newspaper and will be available at the Company’s office.
Πέμπτη, 28 Φεβρουαρίου, 2013 - 16:11