• No results found

0022/ /en Annual Financial Report LORDOS HOTELS (HOLDINGS) PUBLIC LTD LHH

N/A
N/A
Protected

Academic year: 2021

Share "0022/ /en Annual Financial Report LORDOS HOTELS (HOLDINGS) PUBLIC LTD LHH"

Copied!
6
0
0

Loading.... (view fulltext now)

Full text

(1)

0022/00015636/en Annual Financial Report

LORDOS HOTELS (HOLDINGS) PUBLIC LTD

LHH

Approval of Audited Financial Statements for 2015 - Proposal for

Dividend - AGM on 22/06/2016 – Members' Rights and Relevant

Documents

Please see attached.

Attachments:

1. LORDOS HOTELS - ANNOUNCEMENT

2. LORDOS HOTELS - ANNUAL RESULTS 2015

Regulated

(2)

It is announced that on 26/04/2016 the Board of Directors of the Company approved the Audited Consolidated

Financial Statements of the Company, the Audited Annual Accounts of the parent company and the Corporate

Governance Report for 2015 (the “Annual Report”), which will be discussed at the Annual General Meeting,

which will take place on Wednesday, 22/06/2016 at 18.00 at The Golden Bay Hotel in Larnaca.

The audited results show no material deviation from the Indicative Results 2015 announced on 24/02/2016 and

the results referred to in the consolidated financial statements.

The Board of Directors decided to propose for approval at the Annual General Meeting the payment of a

dividend of €0.01 per share (2.94% in the nominal value of the share) which corresponds to 48.68% on the

profits for the year.

The record date will be Wednesday 06/07/2016. The record of this date will include the transactions carried out

by the end of the trading day of Monday, 04/07/2016. Therefore, the cum dividend date will be 04/07/2016 and

the ex-dividend date will be Wednesday, 05/07/2016. The investors who will accept shares based on off-floor

transactions completed by the record date (entered in the Dematerialised Securities System) will also be

beneficiaries.

The dividend is proposed to be paid on 21/07/2016. The exact posting date will be announced.

The AGM notice will be announced and posted in due time to shareholders.

It is reminded that the Company’s members have the right, pursuant to Article 127B(1) of the Companies’ Law,

Cap. 113 and provision D.2.1.e of the Corporate Governance Code, to add items on the agenda of the Annual

General Meeting to take place on 22/06/2016 and submit draft decisions. A relevant application by a member

or members holding at least 5% of the issued shares (voting rights) must be received in printed or electronic

form by 11/05/2016 (at least 42 days prior to the date of the Annual General Meeting). The total issued shares

of the Company are 35.009.157. The mailing addresses are: P.O. Box 51094, 3501 Limassol, Fax: +357 25372282,

Email:

lhh@adamides.com

.

Copies of the full text of the Annual Report, as approved and signed, are available at the Company’s registered

office (35, Theclas Lysioti Str., Eagle Star House, 1st floor, 3030 Limassol, tel: +357 25 818444, fax: + 357 25

372282, email: lhh@adamides.com) and the Company’s Administration Office (10, Kantaras Str., P.O. Box

42881/8, 7081 Pyla, Larnaca, Cyprus, tel. +357 24 646880, fax: +357 24 645880, email:

reception@lordos.com.cy

). The Annual Report will be available in printed form during the Annual General

Meeting.

_______________

Adaminco Secretarial Limited

(3)

Lordos Hotels (Holdings) Public Limited

CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER TOTAL INCOME

for the year ended 31 December 2015

2015 €

2014

Turnover 10.442.186 10.061.216

Cost of goods sold (5.683.563) (5.423.456)

Gross profit 4.758.623 4.637.760

Other income 11.247 74.541

Loss from investments (10.771) (5)

Selling expenses (354.138) (364.143)

Administrative expenses (2.164.758) (2.188.380)

Other operating expenses (1.241.187) (1.080.574)

Finance cost (236.313) (293.582)

Share in the results of associated companies 6.670 (11.233)

Results before taxation 769.373 774.384

Taxation (154.016) (143.005)

Net profit for the year 615.357 631.379

Other total income

Amounts not to be reclassified in the profit or loss in future periods:

Adjustment in fair value of land and buildings - 1.441.325

(Debit)/credit of deferred taxation in revaluation of land and buildings (10.801) 157.913 (10.801) 1.599.238

Other total income / (expenses) for the year (10.801) 1.599.238

Total income for the year 604.556 2.230.617

Net profit for the year attributable to:

Shareholders of parent company 579.466 583.109

Minority interest 35.891 48.270

Net profit for the year 615.357 631.379

Total income attributable to:

Shareholders of parent company 569.406 1.962.186

Minority interest 35.150 268.431

Total income 604.556 2.230.617

Net profit per share attributable to shareholders of parent company

(cent) 1.66 1.67

Total income per share attributable to shareholders of parent company

(4)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as at 31 December 2015

2015 €

2014 ASSETS

Non-current assets

Property, plant and equipment 80.735.066 81.210.460

Intangible assets 6.966 4.606

Investment in associated company 6.042.789 6.088.706

Financial assets at fair value through profit and loss 12.739 23.510

Loans receivable 1.217.335 1.230.546

88.014.895 88.557.828 Current assets

Stock 211.223 197.567

Trade and other receivables 1.091.673 1.201.443

Receivables from affiliates 6.267 4.198

Cash at bank and in hand 11.588 17.308

1.320.751 1.420.516

TOTAL ASSETS 89.335.646 89.978.344

EQUITY AND LIABILITIES Equity and reserves

Share capital 11.903.113 11.903.113

Other reserves 52.601.964 52.612.024

Accumulated profit 4.118.699 3.889.324

68.623.776 68.404.461

Minority interest 3.982.840 4.003.690

Total equity 72.606.616 72.408.151

Non-current liabilities

Borrowing 2.039.704 2.540.741

Deferred tax liabilities 10.159.166 10.130.346

12.198.870 12.671.087 Current liabilities

Trade and other creditors 2.052.289 2.111.963

Amounts payable to affiliates 157.813 148.182

Bank overdrafts 1.439.057 1.607.404

Borrowing 866.488 1.020.998

Current tax liabilities 14.513 10.559

4.530.160 4.899.106

Total liabilities 16.729.030 17.570.193

(5)

Lordos Hotels (Holdings) Public Limited

CONSOLIDATED STATEMENT OF CASH FLOWS

for the year ended 31 December 2015

2015 €

2014 CASH FLOW FROM OPERATING ACTIVITIES

Results before taxation 769.373 774.384

Adjustment for:

Depreciation of property, plant and equipment 1.126.744 1.088.976

Amortization of intangible assets 5.290 2.754

Share in (profit)/loss from affiliated company (6.670) 11.233

Loss of fair value in financial assets at fair value through profit and loss 10.771 5

Write-off of stock 6.982 8.126

(Reversal of provision for bad debts)/Provision for bad debts (2.000) 62.766

Debit interest 218.490 280.833

Amortization of loans receivable (10.029) (51.900)

Cash flow from operations prior to changes in working capital 2.118.951 2.177.177

Increase in stock (20.638) (4.904)

Decrease / (increase) in trade and other receivables 109.701 (453.295)

Decrease in trade and other creditors (50.043) (257.986)

Cash flow from operations 2.157.971 1.460.992

Tax paid (145.456) (165.967)

Net cash flow from operations 2.012.515 1.295.025

CASH FLOW FROM INVESTING ACTIVITIES

Payment for purchase of intangible assets (7.650) (4.955)

Payment for purchase of property, plant and equipment (651.350) (346.287)

Collection of dividends from associated company 66.000 69.000

Collection of repayments of loans receivable 23.240 18.260

Net cash flow for investing activities (569.760) (263.982)

CASH FLOW FROM FINANCING ACTIVITIES

Repayment of loans (905.547) (963.950)

Collections from new loans 250.000 -

Payment of interest (218.490) (280.833)

Payment of dividends (323.925) -

Payment of defense contribution on dividends payable by shareholders (26.166) -

Payment of dividends to minority interest (56.000) (44.000)

Net cash flow for financing activities (1.280.128) (1.288.783)

Net increase / (decrease) in cash and cash equivalents 162.627 (257.740)

Cash and cash equivalents at beginning of year (1.590.096) (1.332.356)

(6)

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

for the year ended 31 December 2015

Equity attributable to the shareholders of the Company

Share capital

Other reserves

Accumulated profits

Total

Minority interest

Total Balance at 1 January 2014 11.903.113 51.232.947 3.306.215 66.442.275 3.779.259 70.221.534 Net profit for the year - - 583.109 583.109 48.270 631.379 Other total income for the year - 1.379.077 - 1.379.077 220.161 1.599.238 Dividends - - - - (44.000) (44.000)

Balance at 31 December 2014 / 1 January 2015

11.903.113 52.612.024 3.889.324 68.404.461 4.003.690 72.408.151

Net profit for the year - - 579.466 579.466 35.891 615.357 Other total income for the year - (10.060) - (10.060) (741) (10.801) Dividends - - (323.925) (323.925) (56.000) (379.925) Defense contribution on

dividends payable by the shareholders

- (26.166) (26.166) - (26.166)

References

Related documents

We have audited the consolidated financial statements of Bank of Cyprus Public Company Ltd (the ’Company’) and its subsidiaries (together with the Company, the ’Group’) on pages

HR Round (Prove your language skills here, expect a lot of puzzles and a lot of technical questions)4. Final Round (A short round with the CEO of the company. His decision is the

repairs and inspections. The ability to identify repair works by means of diagnostic apparatus. d) To carry out servicing and safety checks on all of the

The following list of translators has been prepared by the British Embassy La Paz for the convenience of British Nationals who may require translation services and assistance

Islamic teaching encourages human beings to improve their economic wellbeing through utilization of natural resources but at the same time it also discourages

This agrees with the findings of Cox and Chung (1991), who show that the Journal of Financial Economics , one of the highly specialized journals in the sample, is closest to

Figure C-7, reveals that 91 percent of the respondents who plan to increase packaging machinery spending this year are doing so, at least in part, to improve packaging

Hvordan kan man i større grad implementere hagen som en del av formidlingen og bruken av Munchs Ekely i dag, og kan dette bidra til å skape et sted som er mer i tråd med Munchs