Rolandos Enterprises Ltd. reported un-audited consolidated earnings results for the six months ended June 30, 2013. For the six months, the company reported net loss attributable to the owners of the company was 575,980 or 1.06 cents per basic and fully diluted share on turnover of 2,150,470 compared to net loss attributable to owners of the company of 111,290 or 0.21 cents per basic and fully diluted share on turnover of 2,666,458 for the same period last year. The company reported operating loss of 87,786 compared to 151,706 and loss before taxation of 557,965 compared to 98,874 for the same period last year.
The increase of the loss before tax is due to the increase of the loss from investing activities which includes an amount of 533,154 that represents the maximum impairment loss to be suffered by the group in respect of its unsecured deposits at the Bank of Cyprus.