1. The Board of Directors of Renos Hadjiioannou Farm Public Company Ltd, at a meeting held today, approved the indicative results for the year ended 31/12/2014. The results have not been audited by the external auditors of the Company but have been prepared with the same accounting standards.
2. The sales amounted to €230.089 compared to €349.786 in 2013. The loss after tax amounted to €1,338,015 compared to a loss of €1,392,777 in 2013. The loss per share amounted to 0.045 cents per share compared with 0.047 cents per share in 2012. The other expenses are essentially an offsetting of debit and credit interests. In 2014 there were no credit interests. The depreciation is included in the administrative expenses.
3. The agreement with a bank submitted to the Land Registry since September 2007 has not been enforced and the Company has initiated legal actions. This actions other actions of the Company against banks for large amounts have not yet reached the stage of the hearing.
4. The Company faces liquidity problems while there are lawsuits and judgments against it.
5. The final results may vary from the revaluation of property of the Company and potential tax liabilities of previous years.
6. Under the circumstances, the Company cannot make any forecasts for 2015, which is projected to be very difficult. The Company is struggling to survive until there is a result, out of court or after judicial decisions in lawsuits against banks.
7. The indicative results will be published in a daily newspaper and are available at the Company’s office.
2. The sales amounted to €230.089 compared to €349.786 in 2013. The loss after tax amounted to €1,338,015 compared to a loss of €1,392,777 in 2013. The loss per share amounted to 0.045 cents per share compared with 0.047 cents per share in 2012. The other expenses are essentially an offsetting of debit and credit interests. In 2014 there were no credit interests. The depreciation is included in the administrative expenses.
3. The agreement with a bank submitted to the Land Registry since September 2007 has not been enforced and the Company has initiated legal actions. This actions other actions of the Company against banks for large amounts have not yet reached the stage of the hearing.
4. The Company faces liquidity problems while there are lawsuits and judgments against it.
5. The final results may vary from the revaluation of property of the Company and potential tax liabilities of previous years.
6. Under the circumstances, the Company cannot make any forecasts for 2015, which is projected to be very difficult. The Company is struggling to survive until there is a result, out of court or after judicial decisions in lawsuits against banks.
7. The indicative results will be published in a daily newspaper and are available at the Company’s office.
Monday, 2 March, 2015 - 09:18