Disclosure 2007

Food & Beverage
Delta Sugar
Eastern Tobacco
Bisco Misr
Extracted Oils
120
124
128
136
Housing
& Real Estate
El Kahera Housing
Medinet Nasr Housing
Six of October Development & Investment (SODIC)
United Housing & Development
El Shams Housing
Heliopolis Housing
144
148
152
156
160
164
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Amortization of Goodwill
Net Operating Profit ( NOP)
Interest Income
Profit (loss) from Revaluation of Investment in Securities
Investment Income
Equity Income in Subsidiaries
Other Income
Other Expenses
Provisions
2004
A nnual
2005
7,473,752
-4,421,386
-455,679
2,596,687
7,897,633
-4,827,260
-448,018
2,622,355
-67,960
2,528,727
00
-128,194
00
2,494,161
38,808
0
0
0
4,042
0
-370,500
435,956
0
0
0
232,840
-125,836
0
2,999,469
2,849,222
2006
8,102,236
-4,617,814
-484,953
2,999,469
0
-150,247
0
2,849,222
37,957
0
0
0
130,772
-82,065
0
FINANCIAL RATIOS
2004
2005
2006
Asset Turnover Ratio (ATO)

0.744
0.829 0.95
Return On Sales (ROS)
18.5 %
30.1 % 24.8 %
Asset Leverage
3.409
2.825 2.66
Return On Equity (ROE)
47 %
70.5 % 62.6 %
Return On Assets (ROA)
13.8 %
24.9 % 23.5 %
Operating Margin
33.8 %
31.6 % 35.2 %
Cost Of Goods Sold ( COGS ) /Sales 59.2 %
61.1 % 57 %
Selling General & Administrative Exp. (SG&A) / 1.6
Sales
% 0.9
1.9 %
%
Net Profit Margin
18.5 %
30.1 % 24.8 %
Earnings Before Interest & Tax (EBIT)/Sales
38.5
29.5 % 36.2 %
Return On Capital (ROC)
101.3 %
173.8 % 146.9 %
Inventory Turnover
3.086
3.259 3.377
Inventory Days On Hand
118.283
111.99 108.07
Accounts Receivable Turnover
23.614
34.05 35.499
Accounts Receivable Days On Hand 15.457 10.719 10.282
Accounts Payable Turnover
4.874
8.223 29.348
2004
Accounts Payable Days On Hand
74.89
Asset Conversion Cycle
58.85
Current Ratio
1.205
Quick Ratio
0.662
Cash Ratio
0.427
Debt/Equity
1.537
Financial Leverage
2.281
Share Par Value
100
Book Value Per Share
215.6
Earnings Per Share ( EPS )
94.23
Price To Earnings Ratio ( P/E )
5.123
Dividends Per Share ( DPS )
30
Dividend Payout Ratio
29.7 %
Dividend Yield
6.2 %
Debt to Assets Ratio
0.669
Closing Price for Last Day of The Year482.7
2005
2006
44.387
78.319
1.231
0.635
0.415
1.068
1.752
100
246.69
173.83
7.583
84.2
48.4 %
6.4 %
0.62
1318.2
12.437
105.917
1.147
0.508
0.244
0.938
1.595
100
234.521
146.879
6.559
93.12
63.4 %
9.7 %
0.6
963.36
Total Cash from Operating Activities

Total Cash from Investing Activities
Total Cash from Financing Activities
Change in Cash
Beginning Cash Balance
Adjustments
15,723
-4,237
-3,188
8,298
5,460
0
-13,496
38,272
-20,044
4,732
13,758
0
17,814
-8,786
-16,239
-7,211
18,490
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
242,993
-165,348
-17,957
59,688
246,053
-173,242
-17,972
54,839
-8,662
51,026
00
-12,004
00
42,835
0
0
0
0
0
-245
0
0
15,120
0
0
-262
00
90,895
78,952
2006
284,982
-175,703
-18,384
90,895
0
-11,943
0
78,952
0
0
0
0
0
-27,332
0
FINANCIAL RATIOS
2004 2005
0.411 0.435
2.7 % 4.3 %
Asset Leverage
3.079 2.744
3.4 % 5.2 %
1.1 % 1.9 %
Operating Margin
21 % 17.4 %
Cost Of Goods Sold ( COGS ) /Sales
68 % 70.4 %
Selling General & Administrative Exp. (SG&A)
3.6 % /4.9
Sales
%
Net Profit Margin
0.9 % 5.7 %
Earnings Before Interest & Tax (EBIT)/Sales 20.9
23.4
%%
3.6 %
5.8 %
Inventory Turnover
1.646
1.538
221.705 237.26
1.425
1.489
Accounts Receivable Days On Hand
256.14 245.21
2.83
3.54
2006
0.498
4%
2.661
5.3 %
2%
27.7 %
61.7 %
4.2 %
3.1 %
18.1 %
6.2 %
1.589
229.77
1.421
256.79
4.406
2004
129
348.9
Current Ratio
1.491
Quick Ratio
0.985
Cash Ratio
0.069
Debt/Equity
1.056
Financial Leverage
2.072
Share Par Value
5
5.265
0.057
86.32
0
0%
Dividend Yield
0%
0.673
2005
2006
103.12
379.346
1.81
1.16
0.107
0.96
1.737
5
5.648
0.383
47.913
0
0%
0%
0.633
18.35
82.848
403.713
1.643
1.096
0.056
0.829
1.655
5
5.894
0.246
44.439
0
0%
0%
0.622
10.94
0
Jan
6
Feb
6
Mar
Apr
6
May
06
Jun
06
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7

Change in Cash
Adjustments
118,523 -402,675
101,091
-183,174
36,440
32,021
0
335,789
5,308
-61,578
70,436
0
2,669,440
-647,270
-1,711,606
310,576
-179,934
12
INCOME STATEMENT
2004
A nnual
2005
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
2,230,491
-1,915,832
-69,288
245,371
3,123,165
-2,835,685
-72,322
215,158
3,231,349
Depreciation
SG & A Expense
Net Operating Profit (NOP)
-1,843
-31,923
-1,662
0
-39,918
0
175,240
3,020,797
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
956
209,943
269,136
14,146
-19,346
166
00
497,565
00
8,560
0 -5,000
0
2006
11,643,116
-7,850,441
-561,326
3,231,349
0
-210,552
0
3,020,797
31,490
0
6,167
0
60,286
0
-81,679
FINANCIAL RATIOS
2004 2005
0.991 1.151
11.1 % 13.5 %
Asset Leverage
5.022 3.015
55.3 % 46.7 %
11 % 15.5 %
Operating Margin
9.4 % 5.6 %
85.9 % 90.8 %
1.4 % / 1.3
Sales
%
Net Profit Margin
9 % 14.4 %
21.3 % 21.7 %
57.6 % 97.8 %
Inventory Turnover
12.5 6.243
29.2 58.463
23.93 16.683
15.25 21.879
15.57 27.934
2006
0.752
15.9 %
3.008
36 %
12 %
25.9 %
67.4 %
1.8 %
8.5 %
26.1 %
203.6 %
3.06
119.3
25.57
14.28
12.1
2004
23.45
21.005
Current Ratio
0.763
Quick Ratio
0.516
Cash Ratio
0.12
Debt/Equity
2.456
Financial Leverage
4.022
Share Par Value
5
5.214
2.331
10.303
0
0%
Dividend Yield
0%
0.801
Closing Price for Last Day of The Year 24.015
2005
2006
13.067
67.276
0.886
0.416
0.021
1.435
2.015
5
10.468
5.237
13.194
0
0%
0%
0.668
69.09
30.168
103.376
0.94
0.376
0.176
1.287
1.967
5.022
28.372
5.481
9.638
0
0%
0%
0.654
52.82

Change in Cash
Adjustments
76,427
-8,346
-66,321
1,760
44,908
0
211,630
-10,311
-165,429
35,890
46,667
0
249,940
3,182
-239,187
13,935
82,558
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
316,506
-156,722
-26,491
133,293
420,108
-198,948
-26,293
194,867
-9,678
123,615
1,377
240
7,664
-5,000
00
-11,637
00
183,230
2,867
00
320
00
1,326
00
-5,557
267,848
253,753
2006
521,823
-215,622
-38,353
267,848
0
-14,095
0
253,753
3,907
0
320
0
977
0
0
FINANCIAL RATIOS
2004 2005
0.379 0.498
25.2 %29.8 %
Asset Leverage
2.199 1.932
21 % 28.7 %
9.6 % 14.8 %
Operating Margin
39.1 %43.6 %
49.5 %47.4 %
3.1 % / 2.8
Sales
%
Net Profit Margin
25.3 %29.5 %
40.4 %43.4 %
26.6 %41.7 %
Inventory Turnover
5.314 7.814
68.68 46.714
34.98 40.083
10.43 9.106
9.305 6.342
2006
0.646
45.1 %
1.411
41.2 %
29.2 %
48.6 %
41.3 %
2.7 %
45.2 %
49.6 %
78.5 %
7.084
51.53
85.03
4.293
10.36
2004
Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
Closing Price for Last Day of The Year
39.2
39.9
1.19
0.92
0.43
0.86
1.18
10
12.7
2.51
10.9
1.25
46.8 %
4.6 %
0.54
27.3
2005 2006
57.56
-1.737
1.026
0.856
0.553
0.473
0.894
10
14.55
3.849
15.77
2
48.5 %
3.3 %
0.463
60.69
35.242
20.579
1.009
0.817
0.61
0.03
0.382
10
19.082
7.285
8.236
2.75
35 %
4.6 %
0.271
60

Change In Cash
1,092,318
-1,634,361
1,200,985
658,942
917,421
2,034,192
-3,891,342
2,449,103
591,953
1,576,363
Ending Cash Balance
1,576,363
2,168,316
3,831,047
-7,917,507
4,656,211
569,751
2,168,316
2,738,067
CASH FLOW
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest on Accrued Installments
Net Operating Profit
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
8,555,794
-5,826,469
-374,463
11,366,594
-7,968,939
-432,377
2,965,278
2,354,862
0
-486,700
0
-639,993
0
0
1,868,162
2,325,285
14,889
19,721
104,894
0
0
3,934,268
61,983
27,678
333,334
0
-35,981
4,966,086
0
-79,730
2006
16,475,199
-10,884,308
-624,805
4,966,086
0
-1,031,818
0
0
3,934,268
106,356
51,846
72,991
0
-117,640
FINANCIAL RATIOS
2004 2005
2006

0.683 0.645 0.576
Asset Leverage
2.765 2.827 2.564
18.3 % 19 % 20.3 %
34.5 % 34.7 % 30 %
12.5 % 12.3 % 11.7 %
Operating Margin
21.8 % 20.5 % 23.9 %
68.1 % 70.1 % 66.1 %
5.7 % / 5.6
Sales
% 6.3 %
Net Profit Margin
12.9 % 15 % 16.2 %
23 % 23.5 % 24.6 %
164.2 %226.9 % 331.1 %
Current Ratio
1.279 1.56
1.116
2004
Cash Ratio
0.358
Debt / Equity
0.723
Financial Leverage
2.765
Share Par Value
5
23.777
Earnings Per Share (EPS)
5.779
Price To Earnings Ratio (P/E)
12.553
Dividends Per Share (DPS)
0
0%
Dividend Yield
0%
Debt to asset ratio
0.261
2005
2006
0.574
0.886
2.827
0.326
0.561
2.564
5
55.249
13.222
20.693
0
0%
0%
0.219
273.6
5
32.688
8.922
24.51
0
0%
0%
0.313
218.67

Change in Cash
Adjustments
-17,681
-82
-992
-18,755
-100,642
0
-3,769
-6
-695
-4,470
-119,398
0
-1,263
3,364
-280
1,821
-123,867
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
226,861
-208,880
-1,486
16,495
243,116
-226,238
-1,494
15,384
00
-6,465
00
-18,437
-1,942
297
57
733
-100
13,435
8,919
465
00
7
00
891
00
0
7, 306
2006
185,341
-170,414
-1,492
13,435
0
-6,129
0
7, 306
689
0
5
0
1,192
0
-70
FINANCIAL RATIOS
2004
2005

0.958
0.924
-0.4 %
1.8 %
Asset Leverage
11.741
12.75
-4.7 %
21.3 %
-0.4 %
1.7 %
Operating Margin
-0.9 %
3.7 %
93.1 %
Sales
%
Net Profit Margin
0.4 %
0.2 %
Earnings Before Interest & Tax (EBIT)/Sales -0.4
4.2%%
-10.6 %
48.9 %
Inventory Turnover
5.841
6.862
62.495
53.19
2.115
1.846
Accounts Receivable Days On Hand 172.579 197.69
6.24
5.414
2006
0.738
2%
12.39
18.2 %
1.5 %
3.9 %
91.9 %
8.1 %
3.3
0.6 %
4.9 %
41.1 %
4.868
74.98
1.736
210.3
5.422
2004
58.5
176.6
Current Ratio
1.082
Quick Ratio
0.915
Cash Ratio
0.025
Debt/Equity
0
Financial Leverage
10.62
Share Par Value
5
11.21
0.417
10.32
0.35
68.9 %
Dividend Yield
8.1 %
0.905
2005
67.414
183.47
1.077
0.94
0.041
2006
67.324
217.928
1.078
0.925
0.065
0
0
11.646 11.28
5
5
11.46
11.268
0.305
0.426
40.393 98.389
0
0.4
0%
68.5 %
0%
1%
0.913
0.91
12.32
41.87

Change in Cash
Adjustments
3,763 141,980
31,684
5,110
40,557
64,977
0
-352,662
118,634
-92,048
105,534
0
-25,239
-43,270
250,235
181,726
13,486
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
278,153
0
0
278,153
0
-7,005
0
271,148
8,433
0
0
0
0
0
0
299,655
285,611
2006
325,558
-25,578
-325
299,655
0
-14,044
0
285,611
588
0
0
0
26
0
0
FINANCIAL RATIOS
2004 2005
2006

0 0.404 0.262
0 % 100.3 % 87.9 %
Asset Leverage
1
1.219 1.464
0 % 49.4 % 33.7 %
0 % 40.5 % 23 %
Operating Margin
0 % 97.5 % 87.7 %
0% 0%
7.9 %
0 % / 2.5
Sales
% 4.3 %
Net Profit Margin
0 % 100 % 81.4 %
0 % 100.5 % 87.9 %
0 % 503.8 % 103.2 %
Inventory Turnover
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2004
0
0
Current Ratio
326.58
Quick Ratio
326.58
Cash Ratio
125.94
Debt/Equity
0
Financial Leverage
0.003
Share Par Value
2.5
24.666
0
0
0
0%
Dividend Yield
0%
0.003
2005
2006
0
0
5.487
5.487
5.251
0
0.219
5
50.972
25.117
2.369
0
0%
0%
0.18
59.49
0
0
3.098
3.098
2.988
0
0.464
5
15.306
4.769
8.294
0
0%
0%
0.317
39.55
0
Jan
6
Feb
6
Mar
Apr
6
May
06
Jun
06
Jul
6
Aug
Sep
6
Oct
6
Nov
06
Dec
06
Jan
7
Feb
7
Mar
7

Change in Cash
Adjustments
30,003
-76,675
-14,526
-61,198
19,131
0
104,516
-278,286
43,668
-130,102
-1,219
0
106,708
-211,797
33,877
-71,212
-131,319
0
INCOME STATEMENT
2004
A nnual
2005
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
381,047
-290,566
-12,449
78,032
409,541
-291,004
0
118,537
138,126
Depreciation
SG & A Expense
0
-10,159
0
67,873
0
-10,786
0
10 7,751
114,087
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
14,456
0
0
0
2,116
0
0
15,595
0
0
0
2,181
0
-10,430
2006
428,127
-290,001
0
138,126
0
-24,039
0
114,087
15,252
0
0
0
3,101
0
0
FINANCIAL RATIOS
2004
2005

0.408
0.367
16.7 %
22 %
Asset Leverage
1.738 1.988
11.8
16 %
6.8 % 8.1 %
Operating Margin
17.8 % 26.3 %
71.1 %
Sales
%
Net Profit Margin
16.9 % 22.2 %
28.1
%%
12.2 %
17.3 %
Inventory Turnover
3.4982.719
104.349
134.26
11.203 8.821
32.58 41.379
6.66
6.652
2006
0.319
23.7 %
2.252
17 %
7.6 %
26.6 %
67.7 %
2.7
5.6 %
23.9 %
30.9 %
19.5 %
3.85
94.8
4.873
74.9
5.022
2004
54.81
82.12
Current Ratio
1.126
Quick Ratio
0.875
Cash Ratio
0.487
Debt/Equity
0.054
Financial Leverage
0.671
Share Par Value
40
41.38
5.909
7.551
3
60.7 %
Dividend Yield
6.7 %
0.386
Closing Price for Last Day Of The Year44.62
2005
2006
54.868
120.766
0.855
0.554
0.298
0.268
0.905
40
43.242
7.012
14.819
0
0%
0%
0.455
103.91
72.677
97.017
0.696
0.54
0.243
0.371
1.192
0
0
0
0
0
0%
0%
0.529
72.5

Change in Cash
Adjustments
8,567
-6,506
-47,049
-44,988
-73,412
0
72,432
-3,062
-54,979
14,391
-118,400
0
44,393
-1,068
-68,623
-25,298
-104,009
0
INCOME STATEMENT
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
153,591
-50,898
-26,055
76,638
A nnual
2005
175,633
-85,625
0
90,008
0
-2,969
0
73,669
61,485
0
-4,982
0
85,026
665
0
2
0
2,024
-55
-2,526
58,032
5,136
0
2
0
2,679
-9,392
-581
2006
140,896
-79,411
0
61,485
0
-3,453
0
58,032
11,359
0
2
0
2,787
-9,049
3,724
FINANCIAL RATIOS
2004
2005

0.23
0.243
18.7 %
21.9 %
Asset Leverage
4.778
5.023
20.5 %
26.7 %
4.3 %
5.3 %
Operating Margin
48 %
48.4 %
48.8 %
Sales
%
Net Profit Margin
20.3 %
21.8 %
48
47.2
%%
22.4 %
30.1 %
Inventory Turnover
1.586
2.498
230.088
146.1
3.463
4.357
Accounts Receivable Days On Hand 105.412
83.766
4.1
7.916
2006
0.187
14.7 %
5.145
14.1 %
2.7 %
41.2 %
56.4 %
2.5
1.9 %
%
16.7 %
47.4 %
16.1 %
2.172
168.1
4.216
86.58
18.28
2004
89.016
246.48
Current Ratio
0.853
Quick Ratio
0.717
Cash Ratio
0.155
Debt/Equity
2.04
Financial Leverage
3.73
Share Par Value
4
4.363
0.902
8.402
0.7
71.8 %
Dividend Yield
9.2 %
0.781
2005
2006
46.109
183.76
0.878
0.777
0.374
1.633
3.985
4
4.503
1.053
21.23
1.021
85.3 %
4.6 %
0.793
22.35
19.963
234.686
0.887
0.794
0.489
1.434
4.125
0
0
0
0
0
68.1 %
0%
0.802
11.51
0
Jan
6
Feb
6
Mar
Apr
6
May
6
Jun
6
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7

Change in Cash
Adjustments
953,652 921,467
-87,205
-431,645
434,802
119,305
0
-47,672
-585,564
288,231
554,108
0
1,426,289
-29,178
-849,568
550,441
842,338
2,898
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
1,665,093
-93,478
-734,437
1,702,224
-827,488
0
837,178
874,736
1,059,3
00
-21,144
00
-22,596
814,582
853,592
14,829
0
0
0
2,562
-34,550
0
34,630
0
0
0
3,023
-36,335
0
1,036,51
74,736
592
2006
1,969,396
-910,001
0
1,059,395
0
-22,879
0
1,036,516
50,251
0
0
0
2,698
-21,047
0
FINANCIAL RATIOS
2004 2005 2006
)ATO(Asset Turnover Ratio
0.591 0.564
44.2 % 46.7 %
Asset Leverage
1.532 1.454
40.1 % 38.3 %
26.1 % 26.3 %
Operating Margin
48.9 % 50.1 %
5.6 % 48.6 %
1.4 % / Sales
1.2 %
Net Profit Margin
44.1 % 46.7 %
47.9 % 50.2 %
70.1 % 75.7 %
Inventory Turnover
0.513 4.288
711.8 85.12
11.16 13.42
32.69 27.2
0
0
0.576
52 %
1.421
42.5 %
29.9 %
52.6 %
46.2 %
1.2 %
50.8 %
54.3 %
97.5 %
5.068
72.02
14.44
25.27
0
2004
0
744.53
Current Ratio
2.278
Quick Ratio
1.881
Cash Ratio
1.204
Debt/Equity
0.201
Financial Leverage
0.469
Share Par Value
100
175.01
69.946
0
0
0%
Dividend Yield
0%
0.306
Closing Price for Last Day Of The Year
0
2005
2006
0
112.324
3.422
2.943
2.092
0.168
0.372
10
19.78
7.568
14.07
0
0%
0%
0.256
106.49
0
97.294
3.178
2.882
2.301
0.074
0.33
10
22.927
9.533
11.944
0
0%
0%
0.232
113.86
-2,239 1,518

Change in Cash
Adjustments
-738
-697
-3,674
4,811
0
-2,014
11,592
11,096
1,137
0
-5,350
-16,623
785
-21,188
12,233
0
FINANCIAL RATIOS
2004 2005
2006

6.216 2.113
1.9 % 4.8 %
Asset Leverage
4.088 1.674
47.1 % 16.8 %
11.5 % 10 %
Operating Margin
3.2 % 2.4 %
95.4 % 95 %
1.2 /%Sales
2.2 %
Net Profit Margin
1.9 % 4.8 %
Earnings Before Interest & Tax (EBIT)/Sales 2.5 % 6.4 %
50.5 % 30.2 %
Inventory Turnover
26.39 12.612
13.83 28.94
0
0
0
0
2004
1.73
2.1 %
2.262
8%
3.5 %
2.7 %
95.2 %
1.8 %
2.1 %
3%
8.5 %
6.319
57.77
0
0
0

Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
2005
0
13.83
1.207
0.91
0.375
0
28.94
2.196
1.801
1.037
0
3.088
0
0.674
1.073
0.506
22.616
0.4
79.1 %
3.5 %
0.755
1.796
0.302
61.573
0.2
66.2 %
1.1 %
0.402
11.44
18.59
2006
0
57.767
1.146
0.679
0.237
0
1.262
5
5.281
0.424
49.298
0.35
82.6 %
1.7 %
0.558
20.89
2004 2005
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
163,627
-156,085
-92
7, 450
-92
-2,045
0
5,313
450
0
197
0
9,470
-9,099
-2,259
76,225
-72,444
-152
3,629
-126
-1,685
0
1, 818
0
0
0
0
21,605
-17,588
-959
4,669
2,713
2006
99,217
-94,405
-143
4,669
-143
-1,813
0
2,713
0
0
0
0
687
0
-423

Change in Cash
Adjustments
2,507,746
-574,867
-1,229,379
703,500
608,723
0
2,256,890
-1,608,223
-1,520,842
-872,175
1,312,223
0
2,865,821
-2,082,496
-938,047
-154,722
440,049
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
4,520,866
-1,546,013
Depreciation
SG & A Expense
Investment Income
Other Income
Other Expenses
Provisions
Net Profit before Interest & Tax
-697,022
-645,271
-57,501
-206,711
1,368,348
-857,252
-733,168
0
0
0
0
0
-54,473
-100,814
1, 897,107
Interest Income
Interest Expense
32,897
-107,386
27,524
-129,240
2,974,853
5,363,766
-1,720,952
00
3,642,814
0
0
0
0
0
4,467,701
2,101,679
2006
6,362,101
-1,894,400
0
4,467,701
-1,113,934
-1,096,312
0
0
0
0
0
-45,584
-110,192
2,101,679
34,737
-165,928
FINANCIAL RATIOS
2004 2005
2006

0.791 0.832 0.863
19.9 % 26.6 % 24.1 %
Asset Leverage
3.612 4.193 4.518
57 % 92.9 % 93.9 %
15.8 % 22.2 % 20.8 %
Cost Of Goods Sold ( COGS) / Sales
34.2 % 32.1 % 29.8 %
Selling General & Administrative Exp. (SG&A)/Sales
14.3 % 13.7 % 17.2 %
Net Profit Margin
19.3 % 26.9 % 24 %
30.3 % 35.4 % 33 %
Return On Capital
90.2 % 142.8 % 153.4 %
Inventory Turnover
90.72 40.268 34.3
4.023 9.064 10.64
26.03 30.378 27.37
14.02 12.015 13.33
4.581 8.938 6.006
79.68 40.838 60.77
2004
-61.63
Current Ratio
0.558
Quick Ratio
0.553
Cash Ratio
0.389
Financial Leverage
2.612
Debt/Equity
0.258
15.82
Share Par Value
10
8.731
Price to Earnings Ratio
14.7
0
Dividend Yield
0%
0%
Debt to asset ratio
0.185
2005
2006
-19.76
0.292
0.279
0.139
3.193
0.638
15.37
10
14.437
13.878
10.871
5.4 %
75.3 %
0.223
200.35
-36.798
0.27
0.255
0.08
3.518
1.088
16.326
10
15.259
11.887
11.636
6.4 %
76.3 %
0.261
181.39

Change in Cash
Adjustments
5,662,734
-6,223,027
2,382,124
2,052,451
1,102,174
230,620
7,355,039
-11,290,273
2,587,396
-1,503,571
3,154,625
-155,733
10,004,615
-17,317,783
9,975,778
2,684,227
1,651,055
21,617
INCOME STATEMENT
2004
A nnual
2005
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
12,501,631
-1,134,607
-1,873,330
9,493,694
18,730,653
-3,996,795
-2,456,840
12,277,018
Depreciation
SG & A Expense
Investment Income
Other Income
Other Expenses
Provisions
Net Profit before Interest & Tax
-1,873,330
-2,302,583
Interest Income
Interest Expense
94,038
-451,787
142,597
6,206
-556,358
-195,346
4,714,880
-2,456,840
-3,004,891
0 52,343
00
0
0 409,805
187,664
-1,170,443
-71,536
6,223,120
0
-471,489
16,683,758
7,906,190
2006
25,326,609
-5,261,606
-3,381,245
16,683,758
-3,381,245
-3,868,440
0
0
29,904
-97,324
303,845
-1,653,523
-110,785
7,906,190
0
-2,211,114
Capital Gain
-27,534
-4,080
Other Unusual Items

Minority Interest
Net Profit after Unusual Items
-674,192
-893,122
-267,383
-705,827
3,944,794
Profit Sharing & BOD Remunerations

Net Attributable Income
1, 961, 222
1,961,222
00
3,944,794
4,207,952
794
-21,889
0
-407,975
4,207,952
0
4,207,952
FINANCIAL RATIOS
2004
2005
2006

0.517 0.473 0.512
28.4 % 26.3 % 18.3 %
Asset Leverage
2.775 4.227 4.016
40.8 % 52.6 % 37.6 %
14.7 % 12.4 % 9.4 %
Cost Of Goods Sold ( COGS) / Sales
9.1 % 21.3 % 20.8 %
Selling General & Administrative Exp. (SG&A)/Sales
18.4 % 16 % 15.3 %
Net Profit Margin
15.7 % 21.1 % 16.6 %
37.7 % 33.2 % 31.2 %
Return On Capital
323.3 % 447.5 % 421.6 %
Inventory Turnover
3.448 7.955 6.754
105.86 45.882 54.04
12.655 9.011 20.61
28.841 40.507 17.71
0
0
0
0
0
0
2004
0
Current Ratio
0.773
Quick Ratio
0.734
Cash Ratio
0.368
Financial Leverage
1.775
Debt/Equity
0.573
79.21
Share Par Value
10
17.83
Price to Earnings Ratio
14.05
0
Dividend Yield
0%
0%
Debt to asset ratio
0.304
2005
2006
0
0
0.597
0.546
0.283
3.016
1.665
56.026
5
19.127
19.729
0
0
0%
0%
0%
0%
0.301
0.485
603.06 377.35
0.303
0.278
0.086
3.227
0.951
85.122
10
35.862
16.816

Change in Cash
Adjustments
3,346,004
-2,002,961
-413,817
929,226
175,356
0
3,630,794
-2,890,065
-1,246,822
-506,088
1,104,560
5
3,580,589
-6,264,888
2,572,235
-111,999
598,472
65
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
7,857,868
-4,914,593
2,943,275
-1,014,512
1,928,763
8,547,714
-5,426,434
00
3,121,280
00
-1,338,759
00
1,782,521
9,954
0
41,488
0
23,047
0
0
27,980
0
385,291
0
111,784
0
0
3,724,486
2,279,974
2006
9,488,413
-5,763,927
0
3,724,486
0
-1,444,512
0
2,279,974
48,633
0
609,477
0
250,946
0
0
Capital Gain
Other Unusual Items
Minority Interest
Net Profit after Unusual Items
Profit Sharing & BOD Remunerations
Net Attributable Income
0 -24,760
-155,506
-2,694
631,425
-2,754
2,097,275
1,025,167
0
1,025,167
2,426,876
0
2,097,275
75
-9,443
111,320
-2,897
2,426,876
0
2,426,876
FINANCIAL RATIOS
2004 2005
0.235 0.265
15.1 % 17.5 %
Asset Leverage
1.443 1.401
5.1 % 6.5 %
3.5 % 4.6 %
Operating Margin
24.5 % 20.9 %
62.5 % 63.5 %
12.9 %/15.7
Sales%
Net Profit Margin
13 % 24.5 %
25.5 % 27 %
6.9 % 8.7 %
Inventory Turnover
11.81 10.967
30.9 33.28
3.003 3.341
121.6 109.26
86.83 65.195
2006
0.263
24.5 %
1.465
9.5 %
6.5 %
24 %
60.7 %
15.2 %
25.6 %
33.6 %
13.6 %
9.64
37.86
3.165
115.3
39.67
2004
4.204
148.26
Current Ratio
1.148
Quick Ratio
1.069
Cash Ratio
0.22
Debt/Equity
0.192
Financial Leverage
0.378
Share Par Value
100
135.58
5.991
0
0
0%
Dividend Yield
0%
0.262
0
2005
5.599
136.94
1.452
1.332
0.186
0.183
0.347
99.758
134.46
12.256
1.567
2006
9.201
143.982
1.305
1.174
0.129
0.301
0.445
10
14.409
1.422
10.002
0
0
0%
0%
0%
0%
0.247
0.304
19.21
14.22
0
Jan
6
Feb
6
Mar
Apr
6
May
6
Jun
6
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7

Change in Cash
Adjustments
7,883
-745
-8,856
-1,718
-35,907
0
-8,308
6,187
5,077
2,956
-37,626
0
-8,550
2,246
30,942
24,638
-34,670
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
288,952
-246,091
-9,665
33 ,196
252,359
-220,023
-6,186
26,150
25,476
00
-12,613
00
13,537
10,530
-14,855
18,341
403
0
0
0
0
-1,205
2,672
284
0
0
0
0
-3,649
0
2006
297,420
-266,097
-5,847
25,476
0
-14,946
0
10,530
137
0
0
0
0
-6,391
0
FINANCIAL RATIOS
2004 2005
0.487 0.425
-1.2 % -5.5 %
Asset Leverage
2.248 2.341
-1.3 % -5.5 %
-0.6 % -2.4 %
Operating Margin
6.3 % 5.4 %
85.2 % 87.2 %
5.1 % /5Sales
%
Net Profit Margin
-1.2 % -2.8 %
Earnings Before Interest & Tax (EBIT)/Sales 7 %
-1.6 % -6.3 %
Inventory Turnover
5.023 3.403
72.67 107.26
2.901 2.303
125.8 158.49
24.31 24.015
2006
2004
0.513
15.01
-6.8 %
183.5
2.476
Current Ratio
0.764
-8.6 %
Quick Ratio
0.542
-3.5 %
Cash Ratio
0.045
3.5 %
Debt/Equity
0.356
89.5 %
Financial Leverage
1.195
5%
Share Par Value
15
-6.5 %
17.77
4%
1.4 %
-0.233
-9.1 %
-17.93
3.968
0
91.98
0%
3.052
Dividend Yield
0%
119.6
0.532
29.02
-0.475
PS )
2005
2006
15.199
250.554
0.858
0.558
0.018
0.44
1.291
15
17.089
-0.233
-18.897
0
0%
0%
0.551
8.97
12.577
199.012
1.201
0.737
0.011
0.797
1.416
15
15.783
-0.475 -1.306
-12.997
0
0%
0%
0.572
16.98

Change in Cash
Adjustments
-1,095,189
-1,002,352
2,494,327
396,786
0
0
Annual
2006
Assets
Cash
Marketable Securities
Accounts Receivable
Less Provisions
Net Receivables
Inventory
Raw Materials
Work in Progress
Finished Goods
Goods in Transit
Letters of Credit
Total Inventory
Less Provisions
Net Inventory
Advance Payment to Suppliers
Prepaids
Other Current Assets
Dues from Affiliates & Sister Companies
Total Current Assets
Land
Building, Machinery & Equipment
Construction in Progress
Gross Plant
Less Accumulated Depreciation
Net Fixed Assets
Net Investments
Investment in Affiliates & Sister Companies
Other Non-Current Assets
Goodwill & Other Intangibles
Less Accumulated Amortization
Net Intangibles
Total Assets
396,786
0
883,148
0
883,148
752,530
214,350
586,315
193,176
0
1,746,371
0
1,746,371
0
0
925,761
21,984
3,974,050
46,580
571,254
145,516
763,350
-59,955
703,395
17,514
0
185,095
267
0
267
4,880,322
Liabilities & Equity

Short Term Debt
Current Portion of Debt
Accounts Payable
Advances from Customers
Dividends Payable
Accrued Expenses
Dues to Affiliates & Sister Companies
Other Current Liabilities
Total Current Liabilities
Bonds
Long-Term Debt
Other Non-Current Liabilities
Total Liabilities
Provisions
Capital
Capital Increase
Revaluation Deffrences
Additional Paid-in Capital
Treasury Stocks
Retained Earnings Opening
Plus: Net Income
Less: Dividends
Adjustment
Retained Earnings Closing
Equity Reserves
Minority Interest
Translation Gain
Shareholders' Equity
Total Liabilities & Equity
Annual
2006
245,690
1,709,677
222,713
77,279
0
101,647
13,484
585,332
2,955,822
0
19,142
49,739
3,024,703
28,911
1,200,000
0
0
0
-92,482
0
553,747
0
0
553,747
0
158,451
6,992
1,826,708
4,880,322
FINANCIAL RATIOS
2006
Asset Leverage
Operating Margin
Selling General & Administrative Exp. (SG&A) / Sales
Net Profit Margin
Inventory Turnover
1.486
8%
2.672
31.7 %
11.9 %
8.9 %
87.8 %
2.5 %
8.2 %
9.7 %
48.3 %
3.646
100.1
8.214
44.44

Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
29.39
2006
12.42
132.125
1.344
0.754
0.134
0.946
1.656
10
15.223
4.955
8.744
0
0%
0%
0.62
43.33
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Annual
2006
7,254,008
-6,367,440
-62,915
ment
431C019
ers: EGTS.CA
15,625 15,424

Change in Cash
Adjustments
-1,483 -8,328
-1,259
12,883
0 12,882
0
16
7,112
0
74,069
-18,029
-15
56,025
19,994
0
INCOME STATEMENT
A nnual
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2005
47,568
-16,930
-381
30,257
-381
-3,550
0
26,326
134
0
0
0
13
-483
2,725
84,492
-21,880
-308
62,304
-308
-5,740
0
56,256
491
0
0
0
77
-2,587
8,541
248,418
239,784
2006
325,611
-76,904
-289
248,418
-289
-8,345
0
239,784
587
0
0
0
10
-2,441
-170
FINANCIAL RATIOS
2004 2005
2006
2004

0.137 0.205 0.487
41.116
60.2 % 74.2 % 73 %
3957.35
Asset Leverage
1.383 1.542 1.335
Current Ratio
5.21
11.4 % 23.4 % 47.5 %
Quick Ratio
3.238
8.2 % 15.2 % 35.6 %
Cash Ratio
0.209
Operating Margin
55.3 % 66.6 % 73.6 %
Debt/Equity
0
35.6 % 25.9 % 23.6 %
Financial Leverage
0.383
7.5 % / 6.8
Sales
% 2.6 %
Share Par Value
10
Net Profit Margin
45 % 72.6 % 72.4 %
11.994
60.4 % 74.3 % 73 %
1.019
13.6 % 29.8 % 90.6 %
29.289
Inventory Turnover
0.139 0.135 0.496
0
2617.352703.502 735.491
0%
0%
0.264 1.206 1.583
Dividend Yield
0%
1381 302.73 230.55
0.277
8.877 17.993
0
0%
0%
2005
20.285
2985.95
3.577
1.397
0.269
0
0.541
10
12.735
2.921
10.58
0
0%
0%
0.351
30.9
2006
0
966.044
4.117
2.723
0.684
0
0.334
10
19.067
8.984
14.014
0
0%
0%
0.25
125.91

Change in Cash
Adjustments
154,788
-28,684
-52,826
73,278
48,941
0
35,330
-223,576
207,265
19,019
122,219
0
113,701
-124,772
207,405
196,334
141,237
0
INCOME STATEMENT
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
530,075
-212,387
0
317,688
-30,484
-124,164
841
163,881
1,813
0
11,314
1,348
17,091
-20,846
0
A nnual
2005
682,627
-364,371
0
318,256
0
-156,273
1,905
163,888
1,044
0
9,955
0
114,953
-4,884
4,523
443,574
237,749
2006
963,498
-519,924
0
443,574
0
-202,144
-3,681
237,749
8,348
0
93,436
0
51,502
0
9,027
FINANCIAL RATIOS
2004 2005 2006
0.253 0.237
13.4 % 27.4 %
Asset Leverage
3.498 2.336
11.9 % 15.2 %
3.4 % 6.5 %
Operating Margin
30.9 % 24 %
40.1 % 53.4 %
23.4 %/ 22.9
Sales%
Net Profit Margin
10.1 % 24.5 %
32.9 % 42.4 %
23.7 % 31.7 %
Inventory Turnover
1.788 3.421
204.1 106.7
2.261 1.373
161.4 265.8
0.259
31.7 %
1.89
15.5 %
8.2 %
24.7 %
54 %
21 %
30.5 %
41.5 %
30.6 %
2.944
123.98
1.376
265.35
2004
Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
57.748
307.8
0.732
0.589
0.147
0.889
2.399
5
9.976
0.89
13.936
0
0%
0%
0.686
2005
35.758
336.69
0.858
0.765
0.123
0.365
1.286
2006
35.468
353.856
0.97
0.856
0.219
0.283
0.873
55
10.447 9.857
1.414
1.47
34.688 28.45
00
0%
0%
0%
0%
0.551
0.462
Cash Flow from Operating Activities

Cash Flow from Investing Activities
Cash Flow from Financing Activities
Change in Cash & Cash Equivalents
Cash & Cash Equivalents at the Beginning of Period
Cash & Cash Equivalents at the End of Period
-4,600
652,031
-399,100
248,331
3,077,271
3,325,602
2,299,348
-1,228,430
-311,644
759,274
3,325,602
4,084,876
1,123,581
98,649
-19,588
1,202,642
3,401,951
4,604,593
FINANCIAL RATIOS
Total Liquid Assets / Total Assets
Total Liquid Assets / Total Deposits
Net Loans / Total Deposits
Customer Deposits / Total Deposits
Interbank Assets / Interbank Liabilities
Capital Funds / Total Assets
Capital Funds/ Net Loans
Loan Loss Provision / Total Loans
Asset Leverage
Net Profit Margin
Non Interest Expense/ Gross Revenue
Interest Expense/Gross Revenue
Interest Income/Total Assets
Non Interest Income/Total Assets
2004
2005
2006
37.8 %
43.6 %
55.3 %
99.1 %
2069.9 %
7.6 %
15.9 %
6.3 %
13.177
39.7 %
34.9 %
71.4 %
5.8 %
2%
32.8 % 36.5 %
39 % 42.2 %
54.9 % 53.3 %
97.2 % 96.3 %
473.2 % 496 %
8.3 % 9.6 %
18 % 20.7 %
6.3 % 5.6 %
12.025 10.45
41.1 % 45.8 %
34.3 % 37.5 %
76.2 % 72.4 %
6.7 % 6.1 %
1.9 % 2.5 %
2004
Asset Utilization
4.5 %
1.8 %
23.8 %
Share Par Value
10
16.332
Price / Book Value Per Share
2.386
3.443
11.316
1.75
45 %
Dividend Yield
4.5 %
Debt to asset ratio
0.004
Debt to equity
0.057
2005
2006
4.9 %
2%
24.1 %
10
19.44
3.018
4.154
14.127
1
21.3 %
1.7 %
0.003
0.039
58.68
5%
2.4 %
24.9 %
10
18.56
3.118
4.453
12.996
1
0%
0%
0.003
0.027
57.87
INCOME STATEMENT
2004
Interest Income from Loans & Banks
T-Bills & Bonds Income
1,248,112
369,000
A nnual
2005
1,407,280
620,890
2006
1,748,827
568,101

Change in Cash
Ending Cash Balance
-16,250
29,433
-38,326
-25,143
58,679
33,536
40,183
2,950
-47,469
-4,336
33,634
29,298
-48,161
-1,413
32,982
-16,592
50,170
33,578

Goodwill
Net Intangibles
Total Assets
19,731
20,437
0
0
0
268,069
23,168
0
0
0
238,402
0
0
0
304,297

-45,755
Plus: Net Income
-13,024
Less: Dividends
0
Adjustement
0
-58,955
Other Equity Reserves
52,037
Capital Increase
0
Minority Interest
0
Shareholders' Equity & Minority Interest
130,082
268,069
-58,779
16,713
5,780
7,321
0
0
-42,066
52,220
0
0
13,101
9,529
0
439
147,234
238,402
0
25,532
248,162
304,297
FINANCIAL RATIOS
2004
2005
2006
2004
Asset Leverage
2.061
1.591
1.226

Net Profit Margin
Current Ratio
Debt/Equity
Share Par Value
-10 %
-4.9 %
-133.3 %
1.025
0
10
9.495
11.4 %
7.1 %
45.2 %
1.472
0.113
10
10.775
3%
2.4 %
28 %
4.988
0.07
10
12.41

-4.681
0
0%
Dividend Yield
0%
Debt to asset ratio
0.489
-0.951
2005
2006
1.223
0.366
21.344 47.534
0
0
0%
0%
0%
0%
0.321 0.103
26.11 17.4
INCOME STATEMENT
A nnual
Income from Fees, Commissions & Managing Investments
Interest Earned on Time Deposits
Bonds Interest
Gain on Sale of Available for Sale Investments
Unrealized Gains on Trading Investment
Dividends Income
Available for Sale Investments Revaluation Differences
Gains on Sale of Fixed Assets
Currency Differences
Other Income
Total Revenues
less:
General Adminstrative Expenses
Consultation Fees
Interest Expense
Commissions Paid
Provisions
Loss/ Gain on Sale of Investments
Loss on Sale of Fixed Assets
Fixed Assets Depreciation
Deferred Expenditures Amortization
Foreig exchange Gains/losses
Total Expenses
Net Profit before Income Tax
less: Income Tax
Minority Interest
2004
2005
364
1,085
601
4,115
352
2,994
6,998
1,713
589
9,733
221
4,377
0
12,195
0
1,172
36,998
0
7,918
0
10,478
0
633
0
0
1,084
0
757
20,870
16,128
-598
-11
0
0
0
261
9,772
0
4,041
0
17,006
0
496
915
0
83
0
545
23,086
-13,314
0
289
2006
7,416
2,489
29
9,220
2,739
4,128
0
0
0
145
26,166
0
6,911
0
6,117
0
974
0
0
2,829
0
32
16,863
9,303
-49
-2,031

-106,405
8,223
80,495
-17,687
786,995
769,308
652,582
-27,740
89,756
714,598
769,308
1,483,907
-407,224
-364,443
374,483
-397,184
1,483,906
1,086,722
FINANCIAL RATIOS
2004
2005
2006
2004
32.2 % 23.9 % 19.4 %
Asset Utilization

Asset Leverage
Net Profit Margin
35.8 %
52.8 %
94.5 %
330.2 %
6.2 %
13.1 %
9.9 %
16.062
4.8 %
45.7 %
126.3 %
6.6 %
2.8 %

0%
0.2 %
Share Par Value
10
13.81
0.736
0.441
23.054
0
0%
Dividend Yield
0%
Debt to asset ratio
0.002
Debt to equity
0.039
26.2 % 22.5 %
51.4 % 59.5 %
97.9 % 97.5 %
414.7 % 278.7 %
6.3 % 10.3 %
13.5 % 20.1 %
10.8 % 11.4 %
15.779 9.692
15.9 % 20.5 %
36.6 % 38.3 %
125.5 % 134.1 %
6.8 % 8.9 %
2.3 % 1.8 %
4.2 %
2005
2006
4%
4.6 %
0.6 %
10 %
10
11.858
2.447
1.194
24.302
0.9 %
9.1 %
10
13.849
2.42
1.262
26.562
0
0.25
0%
19.8 %
0%
0.7 %
0.001
0
0.014
0.002
29.01
33.51
INCOME STATEMENT
2004
379,057
84,805
A nnual
2005
420,978
217,115
2006
504,813
395,489

-477
2,011
-46,245
-44,711
1,042,139
997,429
-797,976
-7,540
220,818
-584,698
997,428
412,730
987,245
-8,724
-332,458
646,063
412,730
1,058,793
Accumulated Depreciation
Net Fixed Assets
Sundry Assets
Goodwill
Total Assets
68,128
104,855
92,928
92,928
8,475,919
73,727
101,176
83,951
83,951
7,696,058
78,549
95,215
86,409
86,409
7,339,403
LESS: Board Members & Employees11,800

LESS: Stockholders' Dividends
36,000
4,107
Common Stock in Treasury
0
Translation Gains
0
Minority Interest
0
Capital Funds
797,197
Contingent Liabilities
1,317,181
Total Liabilities & Capital Funds 8,475,919
11800
39000
4,407
0
0
0
806,611
1,371,106
7,696,058
0
0
-153,593
0
0
0
648,611
1,028,142
7,339,403
FINANCIAL RATIOS
2004
2005
2006

37.9 % 38.7 % 32.3 %
53.4 % 60.2 % 46.6 %
73.7 % 74.3 % 77.8 %
93.7 % 95.3 % 93.8 %
Interbank Assets / Interbank Liabilities 322.1 % 504.4 % 217 %
9.3 % 10.5 % 8.8 %
17.8 % 22 % 16.4 %
17.5 % 22.3 % 26.2 %
Asset Leverage
10.754 9.541 11.32
Net Profit Margin
12.2 % 15.9 % -48.3 %
Non Interest Expense/ Gross Revenue 24.1 %
25.3 % 29.7 %
104.7 % 93.2 % 104.5 %
6.7 % 7.3 % 6.9 %
2.6 % 2.2 % 2.2 %
2004
Asset Utilization
4.5 %
0.5 %
5.9 %
Share Par Value
10
13.137
0.78
0.58
17.648
0.6
77.2 %
Dividend Yield
5.9 %
Debt to asset ratio
0.157
Debt to equity
1.689
0%
0%
2005
5.9 %
2006
4.9 % 4.5 %
0.8 % -2.2 %
7.5 % -24.4 %
10
10
13.444 10.81
1.079 2.22
0.807 -2.633
17.97 -9.114
0
0
0%
0%
0%
0%
0.208 0.18
1.984 2.032
14.5
24
INCOME STATEMENT
2004
436,185
129,762
A nnual
2005
376,527
181,831
2006
325,171
181,157

407,742
-129,856
-138,700
139,186
857,985
997,171
3,843,052
-2,585,101
-154,000
1,103,951
997,170
2,101,122
4,589,295
-180,329
1,899,972
6,308,938
2,101,122
8,410,060
FINANCIAL RATIOS
Asset Leverage
Net Profit Margin
2004
2005
2006
45.7 %
52.5 %
58.5 %
98.9 %
2773.4 %
7.1 %
14 %
5.9 %
14.037
35.8 %
28.8 %
64 %
7.5 %
2.2 %
40.2 % 46.8 %
45.7 % 53.9 %
46.2 % 45.6 %
89.2 % 97.2 %
226.1 % 911.5 %
7.4 % 6.1 %
18.2 % 15.5 %
5.2 % 11.3 %
13.497 16.27
63.3 % 9.8 %
27.2 % 61.5 %
71.5 % 111.8 %
6.4 % 6.7 %
1.7 % 1.4 %
2004
Asset Utilization
Share Par Value
Dividend Yield
Debt to asset ratio
Debt to equity
Closing Price for Last Day of the Year
5.9 %
2.1 %
29.8 %
10
15.077
3.58
4.196
12.862
2.5
55.6 %
4.6 %
0
0
53.97
2005
2006
4.7 %
3%
39.9 %
10
18.743
5.416
7.475
13.579
1
13.4 %
1%
0
0
101.51
3.8 %
1.6 %
26.6 %
10
11.955
3.761
0.729
61.638
0
0%
0%
0.021
0.346
44.96
INCOME STATEMENT
2004
710,500
158,930
A nnual
2005
826,531
235,082
2006
1,965,284
682,242

Change in Cash
Adjustments
-346,353 239,258
313,598
86,394
53,639
87,486
0
98,734
-408,366
-70,374
141,079
0
181,116
-111,108
27,314
97,322
70,705
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
1,540,016
-1,187,115
1,630,774
-1,114,971
0 -32,949
352,901
522,76
265,281
264,032
00
-217,573
00
-180,781
172,120
2,435
0
0
0
33,973
0
-2,396
482,854
749
0
1,652
0
24,534
-4,697
-4,554
2,854
2006
2,183,305
-1,626,914
-33,622
522,769
0
-258,737
0
,281
264,032
1,652
0
260
0
23,472
-1,639
285
FINANCIAL RATIOS
2004 2005
0.915 1.089
7.9 % 13.7 %
Asset Leverage
1.993 1.559
14.4 % 23.3 %
7.2 % 14.9 %
Operating Margin
11.2 % 16.3 %
77.1 % 68.4 %
11.7 %/ Sales
13.3 %
Net Profit Margin
6.3 % 13 %
13.4 % 17.4 %
22.2 % 37.2 %
Inventory Turnover
1.729 4.136
211.2 88.242
7.955 9.148
45.88 39.9
17.65 13.875
2006
1.209
10.3 %
1.626
20.2 %
12.5 %
12.1 %
74.5 %
11.9 %
9.8 %
13.2 %
37.4 %
4.519
80.78
4.573
79.82
14.58
2004
20.681
236.37
Current Ratio
1.737
Quick Ratio
0.737
Cash Ratio
0.216
Debt/Equity
0.033
Financial Leverage
0.906
Share Par Value
10
15.413
1.592
12.013
0.8
45.5 %
Dividend Yield
4.2 %
0.455
2005
2006
26.306
101.84
3.232
2.464
0.213
0.048
0.473
10
15.985
3.542
10.149
0
0%
0%
0.303
35.95
25.028
135.567
2.58
1.896
0.326
0.034
0.545
10
18.482
3.544
14.993
0
0%
0%
0.335
53.14
vices
0111C019
ers: DEVE.CA

135,198
-23,011
20,736
132,923
724,223
857,147
-35,907
28,617
-364
-7,654
857,147
849,494
-22,065
-7,895
-476
-30,436
849,494
819,057
FINANCIAL RATIOS
2004
Asset Leverage
Net Profit Margin
2005
2006
24.1 % 25.5 % 29.4 %

26.9 % 28.6 % 31.3 %
61.5 % 63.4 % 58.5 %
95.5 % 99.2 % 99.1 %
189.4 % 1036.5 %1190.1 %
5.5 % 5.4 % 3.6 %
10 % 9.6 % 6.6 %
15.8 % 15.5 % 16.3 %
18.194 18.479 27.69
0.5 % 0 %
-123 %
69 % 58.5 % 92.1 %
329.4 % 283.7 % 422.2 %
6.7 % 6.9 % 6.2 %
1.4 % 1.5 % 1 %
2004
Asset Utilization
1.9 %
0%
0%
Share Par Value
10
16.539
0.47
0.028
275.55
0
0%
Dividend Yield
0%
Debt to asset ratio
0.003
Debt to equity
0.047
2005
2006
2.2 %
0%
-0.2 %
10
16.539
0.655
0
0
0
0%
0%
0.002
0.046
10.83
1.4 %
-1.7 %
-47.3 %
10
11.226
1.58
-5.313
-3.339
0
0%
0%
0.002
0.066
17.74
INCOME STATEMENT
2004
453,507
116,425
A nnual
2005
424,947
166,577
2006
388,451
156,052

216,347
-37,919
-159,157
19,271
968,522
987,794
1,831,383
-1,856,510
-178,061
-203,188
987,794
784,607
-547,123
498,166
-47,850
-96,807
784,607
687,799
2004
508,981
165,424
2005
2006
464,966
314,206
460,422
252,539
FINANCIAL RATIOS
2004 2005
2006
Total Liquid Assets / Total Assets 34.6 %

35.2 % 29.2 %
Total Liquid Assets / Total Deposits 58.9 % 55.5 % 54.3 %
84.3 %
68.5 % 84.9 %
Customer Deposits / Total Deposits 99.9 %
100 %
100 %
5529.622405.1
%
%66543.3 %
4%
4.3 %
6.8 %
8.1 % 9.9 %
14.9 %
6.3 % 6.8 %
6.8 %
Asset Leverage
24.79 23.128 14.7
Net Profit Margin
12.1 % 28.8 % 39.4 %
Non Interest Expense/ Gross Revenue 59.3 % 61.1 % 56.9 %
310.2 %281 %
195.7 %
7.9 % 8.3 %
7.8 %
1.2 % 1.5 %
1.3 %
2004
Asset Utilization
2.2 %
0.3 %
6.6 %
Share Par Value
0
0
0
0
0
0
71.7 %
Dividend Yield
0%
Debt to asset ratio
0.305
Debt to equity
7.557
Closing Price for Last Day of The Year 18
2005
2006
2.6 %
0.7 %
17.1 %
10
39.7
1.456
6.798
8.505
0
0%
0%
0.261
6.025
57.82
3.1 %
1.2 %
17.7 %
10
12.406
5.995
2.202
33.771
0
0%
0%
0.252
3.71
74.37

-145,775
-106,792
56,515
-196,052
411,264
215,212
342,014
-92,080
313,414
563,348
215,212
778,560
-254,875
50,172
6,700
-198,003
762,915
564,912
2004
207,913
75,541
2005
2006
199,273
187,317
226,467
235,029
FINANCIAL RATIOS
2004 2005
2006

39.5 % 45.5 % 46 %
Total Liquid Assets / Total Deposits 42.7 % 51.9 % 51.5 %
0%
0%
0%
98.8 % 99.6 % 99.4 %
Interbank Assets / Interbank Liabilities 919.4 %2188.7 % 686.8 %
4.8 % 9 %
7.2 %
34611 %52567.9 %26299.7 %
70.3 % 67.4 % 63.8 %
Asset Leverage
20.94 11.167 13.95
Net Profit Margin
2.2 % 0.9 %
3.3 %
Non Interest Expense/ Gross Revenue 45.9 % 45.7 % 52.7 %
Interest Expense/Gross Revenue 239.5 %
277.9 % 303.4 %
6.3 %
6.6 %
6.3 %
2004
1.1 %
Asset Utilization
2.2 %
0%
1%
Share Par Value
7
10.01
0.647
0.101
63.9
0
0%
Dividend Yield
0%
2005
0.8 %
2%
0%
0.2 %
2006
0.6 %
1.7 %
0%
0.7 %
7
7
7.323
7.368
1.82
2.005
0.015
0.058
906.8
254.831
0
0
0%
0%
0%
0%
13.33
14.77
0
Jan
6
Feb
6
Mar
Apr
6
May
06
Jun
06
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7

830,862
-311,078
122,595
642,379
1,506,411
2,148,791
303,486
-44,942
-255,105
3,439
2,148,793
2,152,231
INCOME STATEMENT
2005
585,253
254,939
A nnual
2006
630,005
305,552
FINANCIAL RATIOS
Asset Leverage
Net Profit Margin
2005
2006
64.3 %
75.9 %
32.7 %
97.7 %
2178.7 %
9.9 %
35.9 %
14.5 %
10.056
53.7 %
49.5 %
64.5 %
6%
2.3 %
68.1 %
77.5 %
26.3 %
99.1 %
6392.9 %
8.9 %
38.6 %
12.7 %
11.2
2.8 %
54.8 %
71.3 %
5.9 %
2%
Asset Utilization
Share Par Value
Dividend Yield
2005
5.1 %
2.5 %
25.4 %
79.042
147.614
0.687
40.318
2.514
2006
4.6 %
2.1 %
23.3 %
4.007
4.912
3.306
0.072
225.287
0
0
0%
0%
0%
0%
101.34 16.24
age
201C015
rs: SUGR.CA

Change in Cash
Adjustments
212,468
-69,866
-173,758
-31,156
193,538
0
262,885
-95,420
-186,381
-18,916
162,381
0
302,461
-94,483
-214,369
-6,391
143,466
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
603,844
-363,134
-30,183
210,527
1,044,847
-727,969
-29,159
287,719
0
-7,593
0
280,126
-7,221
0
203,306
5,979
0
0
0
11,674
-13,374
-17,806
6,531
0
0
0
4,495
-2,037
-16,240
267,536
258,138
2006
769,448
-469,707
-32,205
267,536
0
-9,398
0
258,138
4,299
0
635
0
43,605
-1,307
-208
FINANCIAL RATIOS
2004 2005
2006
0.659 0.992
0.762

29 %
22.3 % 31.9 %
Asset Leverage
1.744 1.943 1.796
33.342.9
% % 43.7 %
19.1 % 22.1 % 24.3 %
Operating Margin
33.7 % 26.8 % 33.5 %
69.7 % 61 %
Sales
% 1.2 %
Net Profit Margin
29.5 %
21.7 % 32.8 %
26.1
31.4
%%39.7 %
55.8 %
63.2 % 66.7 %
Inventory Turnover
3.6963.639 3.75
98.759
100.31 97.323
254.572
337.16 226.04
1.434 1.083 1.615
37.482
172.42 85.677
2004
9.738

90.455
Current Ratio
1.312
Quick Ratio
0.92
Cash Ratio
0.647
Debt/Equity
0.215
Financial Leverage
0.63
Share Par Value
10
16.728
4.995
6.305
4
70.6 %
Dividend Yield
12.7 %
2005
2006
2.117
4.26
99.273
0.945
0.473
0.339
0.145
0.874
10
14.72
6.167
18.188
5
81.1 %
4.5 %
112.17
94.678
0.801
0.479
0.352
0.086
0.733
10
15.261
6.853
10.819
5.5
80.3 %
7.4 %
74.14
age
091C013
ters: EAST.CA

Change in Cash
Adjustments
297,684 601,333
-86,818
-293,335
-82,469
129,252
0
-100,603
-299,788
200,942
46,783
0
1,013,112
-460,291
-378,684
174,137
247,725
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
2,954,079
-2,314,989
-146,887
492,203
3,401,859
-2,514,797
-148,000
739, 062
-1,259
490,944
24,169
763
7,139
-3,484
-115,475
00
-1,476
00
737,586
4,615
00
763
00
13,685
-2,496
-84,899
72 9,307
72 7,326
2006
3,513,531
-2,650,829
-133,395
72 9,307
0
-1,981
0
72 7,326
5,877
0
763
0
12,793
-510
-115,849
FINANCIAL RATIOS
2004 2005 2006
0.982 0.968
0.904

10.1 % 13.5 % 13.9 %
Asset Leverage
2.463 2.51
2.418
24.5 % 32.7 % 30.4 %
9.9 % 13 % 12.6 %
Operating Margin
16.6 % 21.7 % 20.7 %
78.4 % 73.9 % 75.4 %
0 % /0Sales
%
0.1 %
Net Profit Margin
10.4 % 13.3 % 14.5 %
19.7
% % 17.9 %
79.8 %
122.1 %130.1 %
Inventory Turnover
1.608
1.403 1.655
227.048 260.2 220.5
144.475 79.19 63.753
4.609 5.725
13.779
13.61 19.875
2004
26.49

203.08
Current Ratio
1.235
Quick Ratio
0.238
Cash Ratio
0.124
Debt/Equity
0
Financial Leverage
1.183
Share Par Value
15
48.865
10.553
12.324
7
57 %
Dividend Yield
5.4 %
2005
2006
26.813
18.364
238.01
1.228
0.185
0.144
207.861
1.194
0.291
0.238
0
0
1.227
1.104
15
15
56.004 64.262
16.072 18.279
19.866 16.959
9
10
49.7 % 49.2 %
2.8 % 3.2 %
319.28
310
age
481C013
ers: BISM.CA

Change in Cash
Adjustments
7,412 27,968
-27,577
-26,445
-46,610
68,189
0
-24,057
-21,552
-17,641
34,677
0
-157
46,946
-11,428
35,361
17,036
0
INCOME STATEMENT
A nnual
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2005
117,221
-97,365
0
19,856
0
-8,324
0
11, 532
0
0
9,837
0
18
0
-375
135,323
-113,623
0
21,700
15
0
-9,737
0
11, 963
1, 3
1,729
0
5,260
0
346
-3,388
0
2006
139,889
-121,616
-2,328
21,700
15 ,945
0
-14,585
0
1, 360
1, 963
1,035
0
39,716
0
383
-10,171
-432
FINANCIAL RATIOS
2004 2005
2006
0.765 0.498
0.695
34.82
21.2 %
1.337
19.7 %
14.7 %
1%
86.9 %
10.4 %
16.9 %
22.8 %
32.2 %
4.22
86.5
77.67
4.699
8.242

Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
87.13
1.619
0.863
0.531

17.2 % 10.9 %
Asset Leverage
1.443 1.154
19 % 6.3 %
13.2 % 5.4 %
Operating Margin
9.8 % 8.8 %
83.1 % 84 %
7.1 % / Sales
7.2 %
Net Profit Margin
18.5 % 8.8 %
17.9 % 11.8 %
22 % 16.1 %
Inventory Turnover
3.172 3.76
115.1 97.062
53.11 54.194
6.872 6.735
10.48 8.118
2004
0
0.383
8
9.232
1.387
17.55
1.5
79.5 %
6.2 %
0.265
24.34
2005
2006
44.962 44.287
58.835
2.147
1.258
1.058
0
0.145
0
0
0
0
0
87 %
0%
0.126
36.99
46.908
1.957
1.335
1.199
0
0.322
0
0
0
0
0
72.8 %
0%
0.24
27.84
0
Jan
6
Feb
6
Mar
6
Apr
6
May
6
Jun
6
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7
age
251C012
ers: ZEOT.CA

Change in Cash
Adjustments
45,145
-4,373
-9,675
31,097
-77,509
0
-8,658
-4,566
-16,934
-30,158
-46,412
0
3,853
-4,639
-10,646
-11,432
-76,570
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
202,207
-170,092
-4,852
27,263
208,160
-191,049
0
17,111
00
-18,381
00
-15,353
11, 910
-1,270
1
0
7
0
2,766
-241
581
4
0
7
0
3,207
0 -500
-52
-20,467
2006
212,447
-211,866
0
581
0
-21,048
0
-20,467
5
0
7
0
3,386
-2,181
-1,130
FINANCIAL RATIOS
2004 2005
2006
0.918 0.838
0.847
-9.6 %
4.371
-35.5 %
-8.1 %
-9.6 %
99.7 %
9.9 %
-5.6 %
-9.6 %
-38.9 %
2.506
145.7
17.66
20.66
4.732

190.94
Current Ratio
1.188
Quick Ratio
0.298
Cash Ratio
0.038
Debt/Equity
0.632
Financial Leverage
2.134
Share Par Value
10
13.071
1.805
7.924
1.6
52.5 %
Dividend Yield
11.2 %
14.3

6.6 % 0.7 %
Asset Leverage
3.215 3.094
19.5 % 1.7 %
6.1 % 0.6 %
Operating Margin
5.9 % -0.6 %
84.1 % 91.8 %
7.6 % / 8.8
Sales
%
Net Profit Margin
7.9 % 5.7 %
Earnings Before Interest & Tax (EBIT)/Sale
s 7.1 %
0.7 %
25.5 % 2.7 %
Inventory Turnover
1.735 2.389
210.3 152.81
40.11 27.454
9.099 13.295
12.81 5.336
2004
28.504
2005
2006
68.402
77.126
97.704
1.188
0.576
0.02
0.448
2.075
0
0
0
0
0
0%
0%
23.21
0.671
89.186
0.913
0.409
0.027
0.628
3.343
0
0
0
0
0
0%
0%
4.97
0.765

Change in Cash
Adjustments
129,198
-22,187
-91,468
15,543
242,129
0
193,469
-30,787
-106,719
55,963
257,671
0
235,332
-66,044
-106,770
62,518
313,634
0
BALANCE SHEET
2004
Assets
Cash
257,671
Marketable Securities
0
Accounts Receivable
195,022
Less Provisions
36,486
Net Receivables
158,536
Inventory
Raw Materials
146,380
Work in Progress
36,670
Finished Goods
37,213
Goods in Transit
95
Letters of Credit
32,329
Total Inventory
252,687
Less Provisions
28,744
Net Inventory
223,943
Advance Payment to Suppliers
0
Prepaids
0
Other Current Assets
20,452
Dues from Affiliates & Sister Co.
0
Total Current Assets
660,602
Land
42,825
Building, Machinery & Equipment256,745
Construction in Progress
21,887
Gross Plant
321,457
Less Accumulated Depreciation
0
Net Fixed Assets
321,457
Net Investments
0
Investment in Affiliates & Sister Co.
11,626
A nnual
2005
2006
313,634
376,152
0
209,943
36,486
173,457
227,014
40,836
186,178
169,960
41,084
54,903
231
22,443
288,621
28,744
259,877
190,735
20,674
68,829
3,238
28,743
312,219
31,244
280,975
0
0
23,990
0
0
24,145
0
770,958
42,825
453,851
18,594
515,270
-208,371
306,899
0
867,450
42,825
479,031
28,002
549,858
-244,158
305,700
0
31,571
2004
0
79,177

Goodwill & Other Intangibles
160
58
272,876 254,375

Net Intangibles
Total Assets
0
0
0
272,876 254,375
235,875
1,266,721 1,363,861 1,488,202
CASH FLOW
0
235,875
Liabilities & Equity

Short Term Debt
Current Portion of Debt
Accounts Payable
Advances from Customers
Dividends Payable
Accrued Expenses
Dues to Affiliates & Sister Co.
Other Current Liabilities
Total Current Liabilities
Bonds
Long-Term Debt
Other Non-Current Liabilities
Total Liabilities
Provisions
Capital
Capital Increase
Revaluation Deffrences
Additional Paid-in Capital
Treasury Stocks
Plus: Net Income
Less: Dividends
Adjustment
Equity Reserves
Minority Interest
Translation Gain
Shareholders' Equity
0
0
17,464
0
101,440
0
0
58,524
177,428
0
0
0
177,428
253,932
721,240
0
0
0
0
547
122,078
-86,549
-35,259
817
113,304
0
0
835,361
1,266,721
A nnu l
a
2006
0
0
15,377
0
0
20,265
0
108,052
0
115,401
0
0
76,784
200,213
0
0
84,550
220,216
0
0
0
200,213
269,644
721,240
0
0
0
220,216
286,275
721,240
0
0
0
0
818
161,950
-93,761
-68,443
564
172,200
0
0
0
0
565
196,544
-100,974
-92,894
3,241
257,230
0
0
0
0
894,004
981,711
1,363,861 1,488,202
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
590,711
-335,919
-56,156
198,636
0
-11,234
-18,500
168,902
8,875
0
0
0
4,953
0
-33,334
673,852
-372,149
-57,876
243,827
0
-13,997
-18,500
211, 330
11,265
0
0
0
6,581
0
-12,062
293,231
258,737
2006
745,338
-392,689
-59,418
293,231
0
-15,994
-18,500
258,737
16,448
0
0
0
452
0
-17,050
FINANCIAL RATIOS
2
004
2005

0.466 0.494
20.7 %25.5 %
Asset Leverage
1.516 1.526
14.6 %19.2 %
9.6 % 12.6 %
Operating Margin
28.6 %31.4 %
56.9 %55.2 %
1.9 % /2.1
Sales
%
Net Profit Margin
20.7 %24 %
25.3 %32.2 %
16.9 %23.8 %
Inventory Turnover
1.5
1.432
243.3 254.89
3.726 3.885
97.96 93.955
19.88 25.112
2006
0.501
27.1 %
1.516
20.6 %
13.6 %
34.7 %
52.7 %
2.1 %
26.4 %
34.7 %
28 %
1.398
261.2
4.003
91.17
20.17
2004
18.362
322.93
Current Ratio
3.723
Quick Ratio
2.461
Cash Ratio
1.452
Debt/Equity
0
Financial Leverage
0.212
Share Par Value
10
11.582
1.51
6.608
1.2
70.9 %
Dividend Yield
12 %
0.14
2005
2006
14.535
334.31
3.851
2.553
1.567
0
0.224
10
12.395
2.074
12.255
1.3
57.9 %
5.1 %
0.147
25.42
18.099
334.238
3.939
2.663
1.708
0
0.224
10
13.611
2.544
10.323
1.4
51.4 %
5.3 %
0.148
26.26

Change in Cash
Ending Cash Balance
41,788
7,961
-190,685
-140,936
274,634
133,698
928,629
-88,043
-56,781
783,805
133,699
917,504
12,904
-3,057,740
5,909,876
2,865,040
917,505
3,782,545
INCOME STATEMENT
A nnual
2005
2004
Income from Fees, Commissions & Managing Investments
Interest Earned on Time Deposits
Bonds Interest
Gain on Sale of Available for Sale Investments
Unrealized Gains on Trading Investment
Dividends Income
Available for Sale Investments Revaluation Differences
Gains on Sale of Fixed Assets
Currency Differences
Other Income
Total Revenues
less:
General Adminstrative Expenses
Consultation Fees
Interest Expense
Commissions Paid
Provisions
Loss/ Gain on Sale of Investments
Loss on Sale of Fixed Assets
Fixed Assets Depreciation
Deferred Expenditures Amortization
Foreig exchange Gains/losses
Total Expenses
Net Profit before Income Tax
less: Income Tax
Minority Interest
181,605
2,883
0
14,432
-1,129
6,097
0
0
-8,352
1,403
196,939
0
93,588
0
17,598
0
13,628
-41
795,763
13,165
0
14,276
-4,481
5,577
0
0
0
1,575
825,875
0
6,996
474
474
132,243
64,696
4,713
-7,430
1,226,490
0
271,720
0
22,960
0
27,354
20,422
21
9,056
874
-880
351,527
474,348
94,956
-29,252
2006
898,615
71,966
0
27,997
8,299
218,090
0
0
0
1,523
1,226,490
0
314,747
0
45,712
0
14,763
2,512
14
14,058
0
10,899
402,705
823,785
103,511
-18,330
FINANCIAL RATIOS
2004
Asset Leverage
Net Profit Margin
Current Ratio
Debt/Equity
Share Par Value
1.794
10.4 %
5.8 %
26.7 %
1.723
0.223
2005
2.733
39.7 %
14.5 %
42.4 %
1.308
0.038
5
5
6.223
10.876
2006
1.259
9.5 %
7.6 %
57.2 %
3.17
0.025
5
18.96
2004
0.648
20.82
0
0%
Dividend Yield
0%
Debt to asset ratio
0.16
2005
2006
4.319
29.668
0
0%
0%
0.025
128.13
1.81
22.268
0
0%
0%
0.025
40.3
0
Jan
6
Feb
6
Mar
6
Apr
06
May
06
Jun
6
Jul
6
Aug
Sep
6
Oct
6
Nov
6
Dec
6
Jan
7
Feb
7
Mar
7

Change In Cash
10,970
144
1,996
13,110
1,144
11,919
917
-3,331
9,505
14,254
Ending Cash Balance
14,254
23,759
3,688
115
-2,721
1,082
23,809
24,891
CASH FLOW
INCOME STATEMENT
A nnual
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2005
5,088
-3,657
0
1, 431
0
-1,639
0
8,308
8,100
473
49
942
-389
-2,485
4,163
-3,388
0
775
2,101
0
-1,939
0
7,414
6,250
5,613
1,501
779
1,755
-229
-2,076
2006
9,176
-6,918
-157
2,101
0
-2,211
0
5,723
5,613
1,586
11
1,573
-22
-307
FINANCIAL RATIOS
2004
2005
2006
0.026
0.022
0.046
Cash Ratio
1.866
60.2 %
5.1 %
2.7 %
61.2 %
75.4 %
24.1 %
61.1 %
92.1 %
7.4 %
2.51
Debt / Equity
0.127
Financial Leverage
1.985
Share Par Value
5
6.388
0.295
12.9
0
0%
Dividend Yield
0%
Debt to asset ratio
0.062
Asset Leverage
1.985 1.929
94.2 % 131.4 %
4.9 % 5.6 %
2.5 % 2.9 %
Operating Margin
159.2 % 150.1 %
71.9 % 81.4 %
32.2 %46.6
/ Sales%
Net Profit Margin
97.9 %134.1 %
131.5 %191.7 %
6.3 % 7.3 %
Current Ratio
2.183 2.21
2004
0.405
2005
2006
0.547
0.363
0.122
1.929
0.107
1.866
5
5
6.509
7.181
0.33
0.374
40.939 29.583
0.3
0
80.6 %
0%
2.2 %
0%
0.061
0.055
13.51
11.06

Change In Cash
79,229
10,402
-34,881
54,750
32,721
82,801
5,817
-44,171
44,447
87,471
Ending Cash Balance
87,471
131,918
77,027
652
-55,418
22,261
194,058
216,319
CASH FLOW
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
153,867
-118,674
-273
34,920
100,869
-71,276
-291
29,302
0
-7,789
0
36,509
63,640
6,334
10,409
5,406
-1,044
-20,439
0
-8,092
0
45,491
66,701
9,772
7,990
6,752
-1,998
-15,430
38,923
61,457
2006
205,428
-165,876
-629
38,923
0
-24,710
0
47,244
61,457
16,192
833
13,608
-6,273
-6,034
FINANCIAL RATIOS
2004 2005
0.181 0.112
Asset Leverage
4.588 5.082
30.8 % 54.6 %
25.6 % 31.1 %
5.6 % 6.1 %
Operating Margin
41.4 % 66.1 %
77.1 % 70.7 %
5.1 % / 8Sales
%
Net Profit Margin
30.8 % 54.6 %
41.8 % 73.2 %
59.3 % 68.8 %
Current Ratio
1.153 1.128
2006
0.183
4.097
31.2 %
23.4 %
5.7 %
29.9 %
80.7 %
12 %
30.1 %
38.8 %
80.1 %
1.283
2004
Cash Ratio
Debt / Equity
Financial Leverage
Share Par Value
Dividend Yield
Debt to asset ratio
0.133
0.032
4.588
5
11.58
2.674
18.68
2.5
84.4 %
5%
0.007
49.95
2005
2006
0.184
0.032
5.082
0.257
0.02
4.097
5
17.089
3.87
28.427
0
0%
0%
0.005
110.01
5
11.064
3.082
34.879
3.25
94.4 %
3%
0.006
107.5

Change In Cash
27,563
-1,238
-31,856
-5,531
34,678
50,806
-4,064
-20,912
25,830
29,147
Ending Cash Balance
29,147
54,977
-30,156
-223,420
992,422
738,846
54,977
793,823
CASH FLOW
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
8,219
-6,871
-595
75 3
153,872
-89,676
-453
63,743
246,093
-99
-8,129
0
6,745
62,260
227,791
-123
-9,638
0
9,697
689
2,558
0
4,351
-24,928
-838
1,230
393
2,828
-1,652
-413
2006
359,446
-112,954
-399
246,093
-157
-22,203
0
4,058
227,791
11,066
254
1,551
-111
-2,259
2004
2005

0.017
0.334
Asset Leverage
7.788
4.506
-466.4 % 26.9 %
-62.9 % 40.4 %
-8.1 % 9 %
Operating Margin
8.4 %
40.5 %
83.6 % 58.3 %
117.3 % / 5.3
Sales
%
Net Profit Margin
-466.4 % 26.9 %
-221 % 42 %
-24 % 25.9 %
Current Ratio
1.126
1.434
2006
0.212
1.216
62.5 %
16.2 %
13.3 %
63.4 %
31.4 %
6.2 %
62.2 %
66.3 %
83.5 %
3.862
2004
Cash Ratio
Debt / Equity
Financial Leverage
Share Par Value
Dividend Yield
Debt to asset ratio
0.122
1.544
7.788
10
3.814
-2.398
-1.597
0
0%
0%
0.102
3.83
2005
2006
0.257
0.715
4.506
10
6.401
2.586
53.037
2.757
0
1.216
10
51.704
8.309
17.312
0
0
0%
0%
0%
0%
0.159
0
137.18 143.84

Change In Cash
Ending Cash Balance
5,524
-1
-5,566
-43
14,115
14,072
7,684
-18
-4,830
2,836
14,072
16,908
5,638
-154
-1,366
4,118
16,908
21,026
CASH FLOW
INCOME STATEMENT
A nnual
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2005
16,179
-2,632
0
13,547
-36
-3,007
0
0
10,504
1,442
355
332
0
-259
16,736
-599
0
16 ,137
-78
-3,122
0
0
12 ,937
2,182
311
592
0
-1,906
15,078
11, 812
2006
15,880
-802
0
15,078
-65
-3,201
0
0
11, 812
1,909
490
249
-48
-1,242
FINANCIAL RATIOS
2004 2005
0.241 0.21
Asset Leverage
2.836 2.996
54.3 % 66.6 %
37 % 41.9 %
13 % 14 %
Operating Margin
64.9 % 77.3 %
16.3 % 3.6 %
18.6 %/ 18.7
Sales%
Net Profit Margin
56.4 % 66.8 %
76.5 % 84.3 %
38.1 % 44 %
Current Ratio
1.427 1.397
2006
0.191
2.33
65.2 %
29.1 %
12.5 %
74.4 %
5.1 %
20.2 %
74.7 %
82.9 %
30.7 %
1.625
2004
Cash Ratio
Debt / Equity
Financial Leverage
Share Par Value
Dividend Yield
Debt to asset ratio
0.343
0.005
2.836
1.25
1.288
0.414
9.949
0.389
78.5 %
9.5 %
0.002
4.12
2005
2006
0.34
0.005
2.996
1.25
1.312
0.46
45.923
0.432
78.3 %
2%
0.002
21.11
0.466
0.003
2.33
1.25
1.318
0.367
37.187
0.345
78.5 %
2.5 %
0.001
13.64

Change In Cash
9,922
-4
-6,631
3,287
2,387
9,076
-424
-4,404
4,248
5,674
Ending Cash Balance
5,674
9,922
16,266
-47
-989
15,230
9,922
25,152
CASH FLOW
INCOME STATEMENT
A nnual
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expenses
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2005
19,555
-7,092
0
12,463
22,043
-7,303
0
14,740
-139
-5,690
-175
-5,475
0
0
0
0
6,634
9,090
118
4,023
301
0
-1,380
18,373
11, 476
361
4,697
332
0
-2,036
2006
24,479
-6,106
0
18,373
-156
-6,741
0
0
11, 476
1,091
4,667
458
0
-2,968
FINANCIAL RATIOS
2004 2005
2006
0.102 0.108
0.122
Cash Ratio
2.332
45 %
12.8 %
5.5 %
46.9 %
24.9 %
27.5 %
45 %
60.1 %
34.4 %
1.896
Debt / Equity
0.354
Financial Leverage
2.743
Share Par Value
1
2.926
0.297
12.85
0.267
76 %
Dividend Yield
7%
Debt to asset ratio
0.129
Asset Leverage
2.743 2.607
43.1 % 42.9 %
12 % 12 %
4.4 % 4.6 %
Operating Margin
33.9 % 41.2 %
36.3 % 33.1 %
29.1 %/ Sales
24.8 %
Net Profit Margin
43.1 % 43.1 %
49.6 % 56.5 %
35.1 % 29.6 %
Current Ratio
1.718 1.755
2004
0.058
2005
2006
0.097
0.272
0.305
2.607
0.257
2.332
1
1
2.456
2.683
0.297
0.293
35.806 37.812
0.241
0.35
81.2 % 101.7 %
2.3 %
3.2 %
0.117
0.11
10.64
11.08

Change in Cash
Adjustments
29,781
-25
-29,369
387
15,190
0
60,023
629
-60,689
Ending Cash Balance
15,577
15,540
-37
15,577
0
48,552
-2,246
-46,240
66
15,540
0
15,606
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
102,674
-31,735
-389
70,550
0
-11,729
0
58,821
26,989
0
28
0
1,734
-766
-5,943
120,612
-28,612
-302
91,698
0
-12,939
0
78,759
26,715
0
7
0
1,158
-1,448
-13,388
86,393
72,607
2006
154,402
-67,608
-401
86,393
0
-13,786
0
72,607
27,520
0
4
0
4,073
-597
-7,788
FINANCIAL RATIOS
2004
2005

0.134 0.144
63 % 58.6 %
Asset Leverage
4.951 5.02
41.9 % 42.3 %
8.5 % 8.4 %
Operating Margin
57.3 % 65.3 %
30.9 % 23.7 %
11.4 % /10.7
Sales
%
Net Profit Margin
56.6 % 53 %
78.8 % 76.1 %
87.2 % 95.3 %
Inventory Turnover
0.196 0.16
1859.8 2283.83
3.703 4.217
98.568 86.553
7.621 5.149
2006
0.169
48.6 %
5.067
41.6 %
8.2 %
47 %
43.8 %
8.9 %
46.7 %
62.1 %
101.2 %
0.353
1033.7
5.088
71.734
7.634
2004
Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
47.89
1910
1.203
0.418
0.06
0.039
3.833
5
10.42
3.51
7.723
2.5
63.8 %
9.2 %
0.774
27.11
2005
2006
70.89
2299.5
1.251
0.473
0.138
0.033
3.878
47.812
1057.668
1.154
0.437
0.12
0.03
3.963
5
11.278
3.878
28.61
12.153
4.35
30.216
3 3.5
69.6 % 72 %
2.7 % 2.7 %
0.773
0.782
110.96 131.43

Change in Cash
Adjustments
11,716
-26,521
63,587
48,782
50,555
0
-104,793
-136,472
232,968
-8,297
99,337
0
-57,584
-74,438
93,797
-38,225
153,117
0
INCOME STATEMENT
2004
A nnual
2005
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
1,129,055
-919,214
-17,896
191,945
1,549,386
-1,299,492
0
24 9,894
241,649
Depreciation
SG & A Expense
-17,896
-107,379
-2,468
-25,046
-153,183
-2,277
69,388
50,963
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
495
64,202
-675
3,272
299
-5,178
0
00
-6,856
7,001
9,237
0 -4,144
-3,827
2006
1,651,531
-1,409,882
0
241,649
-22,036
-165,484
-3,166
50,963
0
0
67,540
5,327
4,618
-17,642
-4,037
FINANCIAL RATIOS
2004 2005 2006
2.012 1.765
2.9 % 2.8 %
Asset Leverage
3.013 2.192
17.9 % 10.9 %
5.9 % 5 %
Operating Margin
5.7 % 4.5 %
81.4 % 83.9 %
9.5 % / Sales
9.9 %
Net Profit Margin
2.6 % 2.6 %
5.5 % 4.6 %
33.5 % 15.3 %
Inventory Turnover
16.31 8.161
22.38 44.73
6.044 7.783
60.39 46.9
8.899 10.32
1.553
4.3 %
2.308
15.6 %
6.7 %
3.1 %
85.4 %
10 %
4.2 %
6.5 %
25.2 %
7.429
49.14
8.881
41.1
17.32
2004
41.756
Current Ratio
1.269
Quick Ratio
1.108
Cash Ratio
0.382
Debt/Equity
0.186
Financial Leverage
2.013
Share Par Value
5
9.39
1.459
0
0
0%
Dividend Yield
0%
0
0.668
0
2005
56.235
1.426
1.072
0.406
0.095
1.192
2006
69.16
1.519
1.171
0.418
0.143
1.308
5
5
7.025
8.087
0.697
1.227
28.764 9.537
0
0
0%
0%
0%
0%
20.04
11.7
0.544
0.567
20.04
11.7
Board
Members
Mr / Sayed Helmy
Chairman &
Misr Insurance
Representative
for
Radio
& Television Union
Managing DirectorNadia Hussien Ibraheem
Adel Aly Abd Al Razek
Board Member Representative for National Bank of Egypt
Ahmed Alsayad Representative for
Board
National
Member Nadia Sobhy Tadross
Investment Bank
Representative for Radio & Television Union
Ahmed Mahmoud Kamel Anis Board Member National Bank of Egypt
National Investment Bank
Al Shark Insurance
Board Member Radio & Television Union
Alexandria Bank
Board Member Samir Abd El Azem Wahbah Representative for Al
Asmaa Ahmed Aly Thabet Representative
Board Member Shark Insurance Co.
for National Investment Bank
Sayed Hassan Mohamed Representative for Misr
Banque du Caire
Board Member Insurance Co.
Egyptian Company for InvestmentBoard
Projects
Member Soheir Sayed Mahmoud Representative for Banque
Eng. Samy Mohamed Badawy
Managing Directordu Caire
Suzan Hassan Mohamed Representative for Radio
Hamdy Abd El Samiaa Emarai Board Member & Television Union
Magdy Abd El Hamid Mahmoud El
Board
Gad Member Ashraf Zaki
Egyptian Company for Investment Projects
Mahmoud Hassan Hamed
Board Member
For National Investment Bank
Board Member
Board Member
ank of Egypt
Board Member
elevision Union
Board Member
Board Member
Managing Director
Board Member
Board Member
Board Member
Board Member
Board Member

Change in Cash
Adjustments
102,105
-98,606
-959
2,540
51,150
0
64,771
-64,965
-28,327
-28,521
53,691
0
73,206
-67,325
-8,273
-2,392
25,171
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
220,058
-87,283
-38,518
94,257
0
-27,490
0
66,767
1,262
0
0
0
4,346
0
0
210,873
-94,311
-39,096
77,466
0
-29,272
0
48,194
1,396
0
0
0
2,888
0
0
75,202
46,035
2006
214,237
-99,720
-39,315
75,202
0
-29,167
0
46,035
951
0
0
0
3,541
0
-2,329
FINANCIAL RATIOS
2004
2005
2006

0.093
0.09
0.091
22.6 %
15.8 % 15.5 %
Asset Leverage
1.187
1.158 1.156
2.5 %
1.7 % 1.6 %
2.1 %
1.4 % 1.4 %
Operating Margin
30.3 %
22.9 % 21.5 %
44.7 % 46.5 %
Sales% 12.5
13.6%%
Net Profit Margin
24.2 %
14.1 % 16.1 %
24.9
% % 22.5 %
2.9 %
1.9 % 1.9 %
Inventory Turnover
3.393
3.548 3.317
107.568
102.87 110
1.264
1.243 1.109
32.802
11.679 11.25
2004
11.127
385.28
Current Ratio
1.455
Quick Ratio
1.324
Cash Ratio
0.281
Debt/Equity
0.103
Financial Leverage
0.187
Share Par Value
10
11.56
0.309
43.261
0
0%
Dividend Yield
0%
0.158
2005
2006
31.254
365.298
1.488
1.332
0.216
0.087
0.158
10
11.733
0.172
81.568
0
0%
0%
0.137
14.06
32.451
406.821
1.523
1.354
0.184
0.082
0.156
10
11.856
0.201
56.496
0
0%
0%
0.135
11.34

Change in Cash
Adjustments
64,057 611,675
-38,457
-27,475
-1,875
74,440
0
-69,716
-311,468
230,491
72,565
0
655,194
-16,533
-385,086
253,575
303,055
0
FINANCIAL RATIOS
2004 2005 2006
0.386 1.073 1.398
13.1 % 18.9 % 19.7 %
Asset Leverage
2.704 1.777 1.507
13.7 % 36.1 % 41.5 %
5.1 % 20.3 % 27.6 %
Operating Margin
19.5 % 22.8 % 21.7 %
79.7 % 76.4 % 77.7 %
0.8 % / Sales
0.8 % 0.6 %
Net Profit Margin
11.5 % 19.7 % 19.7 %
19.6 % 22.3 % 21.8 %
13.9 % 58.3 % 92.3 %
Inventory Turnover
9.629 29.72 17.75
37.91 12.28 20.56
7.953 27.03 18.62
45.89 13.5
19.6
0 196.682 58.26
2004
0
83.8
Current Ratio
0.864
Quick Ratio
0.628
Cash Ratio
0.238
Debt/Equity
1.294
Financial Leverage
1.699
Share Par Value
100
101.484
10.912
9.16
10
91%
Dividend Yield
10%
100
Note: Listed at CASE on 22/12/2004
2005
2006
1.856
23.929
2.404
2.068
1.49
0.591
0.757
10
16.15
6.06
12.89
3
51%
3.84%
78.1
6.265
33.891
4.896
3.995
2.84
0.371
0.488
10
22.22
9.24
8.47
0
0%
0%
78.23

Change in Cash
Adjustments
16,861 229,428
351
-9,662
7,550
-37,806
0
9,530
-10,641
228,317
-28,728
0
-186,713
-223,912
758,321
347,696
199,589
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
145,550
-126,266
19,284
155,546
-131,105
00
24,441
00
-3,445
00
-3,471
15,813
4,720
286
2,136
-502
-2,731
7, 754
20,996
4,156
00
11,775
00
994
-1,414
-2,139
3,724
2006
163,506
-155,752
0
7, 754
0
-4,030
0
3,724
24,709
0
35,300
0
886
-1507
-5,496
FINANCIAL RATIOS
2004 2005
0.5 0.307
7.9 % 18.7 %
Asset Leverage
1.26 2.163
4.9 % 12.4 %
3.9 % 5.7 %
Operating Margin
10.9 %13.5 %
86.8 %84.3 %
2.4 % /2.2
Sales
%
Net Profit Margin
7.4 % 18.5 %
13.5 %22.9 %
4.9 % 12.6 %
Inventory Turnover
16
31.009
22.9 11.771
3.22 7.653
47.692
401.663
369.64
2006
0.143
28.9 %
1.12
4.6 %
4.1 %
2.3 %
95.3 %
2.5 %
29.9 %
35.1 %
5.1 %
18.031
20.243
2.209
165.21
301.48
2004
0.909
135.18
Current Ratio
0.981
Quick Ratio
0.842
Cash Ratio
0.002
Debt/Equity
0.005
Financial Leverage
0.251
Share Par Value
5
5.021
0.212
16.248
0.2
85.5 %
Dividend Yield
5.8 %
2005
2006
0.987
58.475
1.06
1.044
0.86
0.003
1.144
5
5.065
0.623
41.615
0
0%
0%
25.91
1.211
184.241
7.543
7.469
6.474
0
0.115
5
5.527
0.264
41.011
0
0%
0%
10.83

Change in Cash
Adjustments
-21,953
15,392
-33,321
-39,882
56,110
0
-9,864
2,414
-2,885
-10,335
16,228
0
-30,326
-6,313
175,806
139,167
5,893
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
314,685
-269,012
-7,650
38,023
272,027
-248,542
-7,725
15,760
0
-9,153
0
0
-8,561
0
28,870
7,199
4,666
0
1,032
0
625
0
-14,880
21,773
2,023
0
670
0
4,032
-3,815
0
12,846
2006
256,365
-227,095
-7,497
21,773
0
-8,927
0
12,846
2,715
0
253
0
1,539
-243
0
FINANCIAL RATIOS
2004 2005 2006
0.428 0.382
5.6 % 2.3 %
Asset Leverage
1.489 1.409
3.6 % 1.2 %
2.4 % 0.9 %
Operating Margin
9.2 % 2.6 %
85.5 % 91.4 %
2.9 % / 3.1
Sales
%
Net Profit Margin
6.3 % 4.5 %
6.5 % 3.7 %
7.5 % 2.6 %
Inventory Turnover
1.496 1.511
243.9 241.5
3.164 2.522
144.7
6.395
10.18
0.281
3.6 %
1.25
1.3 %
1%
5%
88.6 %
3.5 %
5.2 %
6.7 %
2%
1.192
306.09
1.799
202.85
7.836
2004
57.077
302.18
Current Ratio
1.963
Quick Ratio
0.868
Cash Ratio
0.118
Debt/Equity
0.131
Financial Leverage
0.463
Share Par Value
5
10.54
0.366
14.519
0
0%
Dividend Yield
0%
0.311
2005
2006
35.852
350.355
2.097
0.97
0.041
0.088
0.377
5
10.801
0.261
51.447
0
0%
0%
0.267
13.42
46.578
462.366
3.403
2.123
0.976
0.024
0.228
5
7.788
0.117
51.868
0.23
160.4 %
3.8 %
0.182
6.08

Change in Cash
Adjustments
-20,494
-7,473
26,801
-1,166
4,169
0
-11,810
-1,037
11,430
-1,417
3,004
0
54,101
-11,007
-38,594
4,500
1,587
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
385,104
-319,434
-14,235
51,435
331,372
-279,430
-14,767
37,175
41,469
0
-17,333
17,388
51,490
0
-15,684
17,387
38,878
40,955
9
0
218
0
472
-16,949
-10,900
17
0
218
0
6,346
-38,126
10,459
2006
317,664
-270,294
-5,901
41,469
0
-17,902
17,388
40,955
64
0
5,257
0
-70
-5,357
4,575
FINANCIAL RATIOS
2004 2005
2006

0.388
0.331 0.323
2.2 %
-2.8 %
8.2 %
Asset Leverage
1.61
1.628
1.298
1.4 %
-1.5 % 3.5 %
0.9 %
-0.9 % 2.7 %
Operating Margin
13.4 %
11.7 %
12.9 %
Cost Of Goods Sold ( COGS ) /Sales 82.9 % 84.3 % 85.1 %
Selling General & Administrative Exp. (SG&A) / Sales 5.6
4.5 %
Net Profit Margin
0%
-5 %
7.9 %
Earnings Before Interest & Tax (EBIT)/Sales 6.3 %
5.4
14.3
%%
3.8 %
-4.1 % 7.7 %
Inventory Turnover
1.592
1.41
1.486
229.307 258.908
245.58
3.594
3.315
3.876
110.11 94.174
4.8
4.826
5.463
2004
76.049
254.83
Current Ratio
1.219
Quick Ratio
0.517
Cash Ratio
0.011
Debt/Equity
0.061
Financial Leverage
0.517
4.7Share
% Par Value
29
79.255
0.009
1005.3
0
0%
Dividend Yield
0%
0.321
2005
2006
75.632
293.385
1.114
0.471
0.005
0.042
0.541
29
78.928
-2.128
-18.605
0
0%
0%
0.332
39.59
66.812
272.942
1.891
0.794
0.037
0.017
0.235
1
2.234
0.074
48.937
0
0%
0%
0.181
3.61
-5,126 1,457

Change in Cash
Adjustments
275
428
-4,423
5,568
0
5,752
-647
6,562
1,146
0
-6,100
5,602
0
-498
7,708
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
21,733
-24,330
-3,853
-6,450
31,387
-24,486
0
6,901
0
-7,093
0
-6,913
0
-13,363
-368
-192
72
0
15
0
1,525
0
-4,073
-7,733
87
0
15
0
885
23,770
-6,420
2006
23,216
-23,584
0
-368
0
-7,365
0
-7,733
44
0
15
0
987
-2,896
-15,938
FINANCIAL RATIOS
2004 2005 2006
-94.1 % 37.4 %
Asset Leverage
2.003 1.941
-7.9 % 4.3 %
-3.9 % 2.2 %
Operating Margin
-61.5 % -0.6 %
111.9 %78 %
31.8 % / 22.6
Sales%
Net Profit Margin
-96.1 % 37.5 %
-72.8 % 57.8 %
-7.7 % 4.4 %
Inventory Turnover
3.386 3.697
107.8 98.74
0 15.26
0 23.92
25.74 44.11
-142.2 %
2.161
-13.8 %
-6.4 %
-33.3 %
101.6 %
31.7 %
-135.3 %
-109.9 %
-12.5 %
4.279
85.292
5.854
62.353
49.048
2004
93.622
Current Ratio
0.073
Quick Ratio
0.043
Cash Ratio
0.034
Debt/Equity
0.063
Financial Leverage
0.907
Share Par Value
5
4.896
-0.394
-11.847
0
0%
Dividend Yield
0%
0.453
2005
2006
114.39
0.119
0.091
0.041
0.061
0.867
5
5.118
0.222
39.957
0
0%
0%
0.446
8.88
140.203
0.101
0.08
0.028
0.069
1.081
5
4.525
-0.593
-8.939
0
0%
0%
0.5
5.3

Change in Cash
Adjustments
-68,167 67,379
-240,441
267,093
-41,572
79,417
-57
-281,571
249,451
34,688
37,844
-571
484,638
-468,470
135,369
152,886
96,170
1,349
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
1,456,138
-1,053,075
-81,706
321,357
1,601,824
-1,186,056
-87,829
32 7,939
405,600
00
-38,869
00
289,070
345,408
-36,201
285,156
1,991
4,255
26,672
-18,550
7,092
00
776
00
70,832
00
-8,751
2006
2,919,935
-2,376,737
-137,598
405,600
0
-60,192
0
345,408
9,311
0
2,385
0
137,417
0
-117
FINANCIAL RATIOS
2004 2005
2006

0.685 0.627 0.628
15.1 % 15.6 % 12 %
Asset Leverage
1.86 2.112 1.863
19.2 % 20.6 % 14.1 %
10.3 % 9.8 % 7.5 %
Operating Margin
19.6 % 18 %
11.8 %
72.3 % 74 %
81.4 %
2.5 % /2.4
Sales
% 2.1 %
Net Profit Margin
13.3 % 16.1 % 11.5 %
20.6 % 22.4 % 16.9 %
121.9 %124.7 % 124.9 %
Inventory Turnover
2.069 1.799 2.374
176.4 202.94 153.8
4.528 3.719 4.281
80.61 98.148 85.25
7.216 7.898 5.349
2004
50.585
206.44
Current Ratio
1.621
Quick Ratio
0.884
Cash Ratio
0.055
Debt/Equity
0.264
Financial Leverage
0.808
Share Par Value
5
31.763
5.388
10.342
0
0%
Dividend Yield
0%
0.434
2005
2006
46.216
254.88
1.344
0.696
0.071
0.313
1.064
5
30.259
6.445
14.651
0
0%
0%
0.504
94.42
68.235
170.775
1.627
0.863
0.19
0.333
0.833
7.024
62.399
8.417
9.558
0
0%
0%
0.447
80.45

Change in Cash
Adjustments
3,489
-6,395
-24,031
-26,937
-17,626
0
-3,349
-11,026
-33,762
-48,137
-44,564
0
63,650
-9,426
-13,715
40,509
-92,702
0
INCOME STATEMENT
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
2004
A nnual
2005
234,547
-195,325
-8,495
30,727
226,608
-198,091
0
28,517
00
-9,022
00
-9,416
21,311
24
7,983
-6,000
26,602
19,495
46
00
25
00
10,088
00
0
17,506
2006
214,115
-187,513
0
26,602
0
-9,096
0
17,506
6
0
24
0
8,676
0
500
FINANCIAL RATIOS
2004
2005

0.345
0.321
9.1 %
7.3 %
Asset Leverage
1.386
1.435
4.3 %
3.4 %
3.1 %
2.3 %
Operating Margin
9.1 %
8.6 %
87.4 %
Selling General & Administrative Exp. (SG&A) / 4Sales
%
Net Profit Margin
13.2 %
12.4 %
Earnings Before Interest & Tax (EBIT)/Sales 9.913.1
% %
4.5 %
3.5 %
Inventory Turnover
1.597
1.364
228.592
267.51
3.454
3.108
Accounts Receivable Days On Hand 105.684 117.44
2006
0.318
6.4 %
1.361
2.8 %
2%
8.2 %
87.6 %
4.24 %
14.8 %
12.5 %
2.9 %
1.442
253.19
3.468
105.25
2004
Current Ratio
Quick Ratio
Cash Ratio
Debt/Equity
Financial Leverage
Share Par Value
Dividend Yield
97.218
237.06
1.294
0.52
0.004
0.011
0.33
40
41.172
3.063
6.546
1.8
69.1 %
9%
0.238
2005
2006
79.791
305.16
1.246
0.495
0.001
0.008
0.403
40
41.239
2.749
12.073
1.75
74.1 %
5.3 %
0.281
70.405
288.033
1.372
0.512
0.004
0.026
0.331
40
41.394
3.088
45.92
2
75.4 %
1.4 %
0.243

Change in Cash
Adjustments
46,492
-3,374
-46,811
-3,693
217,768
0
46,020
-1,886
-33,760
10,374
214,075
0
5,803
-6,635
-40,281
-41,113
224,448
0
INCOME STATEMENT
A nnual
2005
2004
Net Sales
Cost of Goods Sold
Depreciation
Gross Profit
Depreciation
SG & A Expense
Interest Income
Investment Income
Other Income
Other Expenses
Provisions
39,943
-23,593
-1,661
14,689
33,434
-17,411
-1,927
14,096
0
-12,323
0
2,366
0
-12,559
0
6,487
5,164
0
27,962
29,162
5,930
-4,043
-20,131
0
5,832
12,363
7,473
-1,277
-9,515
1, 537
12 ,108
-1,596
2006
30,668
-16,306
-2,254
12 ,108
0
-13,704
0
-1,596
5,614
0
26,666
25,148
3,684
-3,942
-8,711
FINANCIAL RATIOS
2004 2005
2006
2004

0.08 0.063 0.062
42.866
47.9 % 134.8 % 151.4 %
0.144
Asset Leverage
1.77 1.702 1.587
Current Ratio
2.393
6.8 % 14.5 % 14.8 %
Quick Ratio
2.382
3.8 % 8.5 % 9.3 %
Cash Ratio
1.429
Operating Margin
5.9 % 4.6 % -5.2 %
Debt/Equity
0
59.1 % 52.1 % 53.2 %
Financial Leverage
0.529
30.9 %/ 37.6
Sales% 44.7 %
Share Par Value
1
Net Profit Margin
98.2 % 127.5 % 144.5 %
1.417
59.4 % 136.3 % 152.8 %
0.178
9.6 % 22.5 % 23.2 %
25.491
Inventory Turnover
13.81 9.932 9.458
0.155
26.42 36.749 38.59
79.1 %
22.01 24.512 7.531
Dividend Yield
3.4 %
8.74
8.515
7.924 10.787
10.77
r 4.54
2005
46.06
5.58
2.386
2.375
1.456
0
0.495
1
1.556
0.186
46.904
0.173
81.3 %
2%
8.74
2006
33.836
53.218
2.681
2.667
1.489
0
0.393
1
1.567
0.194
55.622
0.18
81.4 %
1.7 %
10.77

Disclosure 2007

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Disclosure 2007

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Food & Beverage

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Total Cash from Operating Activities

Total Cash from Operating Activities

Total Cash from Operating Activities

Ending Cash Balance

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Total Cash from Operating Activities

Total Cash from Investing Activities

Asset Turnover Ratio (ATO)

Accounts Payable Days On Hand

Total Cash from Operating Activities

Asset Turnover Ratio (ATO)

79.68 40.838 60.77

Total Cash from Operating Activities

Other Unusual Items

Profit Sharing & BOD Remunerations

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Total Cash from Operating Activities

Total Cash from Operating Activities

Liabilities & Equity

Accounts Payable Days On Hand

Accounts Payable Turnover

Closing Price for Last Day of The Year

Total Cash from Operating Activities

Total Cash from Investing Activities

Asset Turnover Ratio (ATO)

Total Cash from Operating Activities

Cash Flow from Operating Activities

Total Cash from Operating Activities

Other Non-Current Assets

Retained Earnings Opening

Earnings Per Share (EPS)

Return On Equity (ROE)

Price To Earnings Ratio (P/E)

Cash Flow from Operating Activities

Total Liquid Assets / Total Assets

32.2 % 23.9 % 19.4 %

Total Liquid Assets / Total Deposits

Return On Assets (ROA)

Cash Flow from Operating Activities

LESS: Board Members & Employees11,800

Total Liquid Assets / Total Assets

Cash Flow from Operating Activities

Total Cash from Operating Activities

Cash Flow from Operating Activities

24.1 % 25.5 % 29.4 %

Cash Flow from Operating Activities

Total Liquid Assets / Total Assets 34.6 %

Cash Flow from Operating Activities

Total Liquid Assets / Total Assets

Cash Flow from Operating Activities

Total Cash from Operating Activities