LONDON, April 12, 2013 /PRNewswire/ --

 

In accordance with the Transparency Directive, Attica Funds Plc today announces its audited results for the year ended 31 December 2012.

Income statement

For the year ended 31 December 2012

                                               2012                        2011
                                                EUR                         EUR

    Revenue - Interest
    receivable                            3,230,790                   3,824,725

    Cost of sales -
    Interest payable                    (3,117,162)                 (3,708,021)

    Gross profit                            113,628                     116,704

    Administrative expenses                (17,171)                    (26,527)

    Operating
    profit                                   96,457                      90,177

    Other
    interest
    receivable
    and similar
    income                                      514                         822

    Profit on
    ordinary
    activities
    before
    taxation                                 96,971                      90,999

    Tax on profit
    on ordinary
    activities                             (22,459)                    (22,959)

    Total
    comprehensive
    income for
    the year                                 74,512                      68,040


    The Statement of Comprehensive Income has been prepared on
    the basis that all operations are continuing operations.

    There are no recognised gains and losses other than those
    passing through the Statement of Comprehensive Income.

Statement of changes in equity

For the year ended 31 December 2012

                                  Total         Share capital     Retained earnings
                                    EUR                   EUR                   EUR

    Balance at 1
    January 2011                463,105                72,892               390,213
    Total
    comprehensive
    income for
    the year                     68,040                     -                68,040

    Balance at 1
    January 2012                531,145                72,892               458,253
    Total
    comprehensive
    income for
    the year                     74,512                     -                74,512

    Balance at 31
    December 2012               605,657                72,892               532,765

Balance sheet

At 31 December 2012

                                        2012                        2011
                                 EUR           EUR           EUR             EUR
    ASSETS
    Non current assets
    Loans and
    receivables                         94,689,000                    94,689,000

    Current assets
    Trade and other
    receivables               47,223                      47,223
    Cash and cash
    equivalents              594,045                     519,307

                                           641,268                       566,530

    Total assets                        95,330,268                    95,255,530

    LIABILITIES
    Current liabilities
    Trade and other
    payables                (14,420)                  (13,604)
    Current tax
    liabilities             (21,191)                  (21,781)

                                          (35,611)                       (35,385)
    Total assets less current
    liabilities                         95,294,657                     95,220,145

    NON CURRENT LIABILITIES
    Interest-bearing
    loans and
    borrowings                        (94,689,000)                   (94,689,000)
    Net assets                             605,657                        531,145

    SHAREHOLDERS'EQUITY
    Called up share
    capital                                 72,892                         72,892
    Retained earnings                      532,765                        458,253
    Total equity                           605,657                        531,145

Cash Flow Statement

For the year ended 31 December 2012

                                            2012                           2011
                                  EUR               EUR           EUR                 EUR

    Cash inflow
    from
    operating
    activities
    (note)                                       97,273                            93,488
    Taxation paid                               (23,049)                          (23,091)

    Net cash generated from
    operating activities                         74,224                            70,397

    Cash flows from investing
    activities
    Interest
    received                     514                              822
    Net cash
    generated
    from
    investing
    activities                                      514                               822
    Net cash
    increase in
    cash and
    cash
    equivalents                                  74,738                            71,219
    Cash and cash equivalents at
    beginning of period                         519,307                           448,088
    Cash and cash equivalents at end
    of period                                   594,045                           519,307

    Reconciliation of operating
    profit to net cash inflow
    from operating activities                        2012                  2011
                                                      EUR                   EUR

    Operating profit                               96,457                90,177
    Increase in liabilities                           816                 3,311

    Cash inflow from operating
    activities                                     97,273                93,488

Notes to the financial information

For the year ended 31 December 2012

1    The results have been prepared in accordance with International Financial Reporting Standards ("IFRS"), International Financial Reporting Interpretations Committee ("IFRIC") interpretations as adopted by the European Union and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. It does not include all the information required for full annual accounts.

2    The financial information set out above does not constitute full statutory accounts of the Company. Full accounts for the Company for the year have been filed at Companies House, did not receive an unqualified auditors' report and did not contain a statement under Section 498 (2) or (3) of the Companies Act 2006.

3    The full accounts of the Company can be obtained from the parent company's website at http://www.atticabank.gr/index.asp?a_id=1319

Contact: Miss Triantafyllou, Tel: +30-210-3669201

SOURCE Attica Funds Plc