ELMEC SPORT BULGARIA EOOD

“Elmec Sport Bulgaria” ЕООDReport and Financial Statements for the year ended 31 December 2008____________________________________________________________________INCOME STATEMENT for the period from 01 January to 31 December 2008All amounts are in thousand Bulgarian LevaNote 2008 2007Revenue 1.1.1. 19,248 12,273Cost of sales 1.2.7 (9,099) (5,924)Gross profit 10,149 6,349Other income 1.1.2. 4Administration, selling and distribution expenses 1.2. (4,910) (4,313)Operating profit 5,243 2,036Finance income 1.1.3. 65 6Finance costs 1.2.8. (145) (80)Profit before tax 5,163 1,962Income tax expense (563) (245)Deferred tax 6 (11)Tax 1.2.9. (557) (256)Net Profit 4,606 1,706Representative:Prepared by:Mihail KatsibirisManagerZoya ShiyakovaChief AccountantThe notes on pages 14 to 22 form an integral part of these financial statements.2