for 1 January to 30 September 2009 - Bakkavor

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Table of Contents Endorsement by the Board of Directors and CEO 2-3 Condensed Consolidated Interim Income Statement 4-5 Condensed Consolidated Interim Statement of Comprehensive Income 6 Condensed Consolidated Interim Statement of Financial Position 7 Condensed Consolidated Interim Statement of Changes in Equity 8 Condensed Consolidated Interim Statement of Cash Flows 9 Notes to the Condensed Consolidated Interim Financial Statements 10-16
Endorsement by the Board of Directors and CEO The Condensed Consolidated Interim Financial Statements of Bakkavör Group hf. for the period 1 January to 30 September 2009 consist of the Condensed Consolidated Interim Financial Statements of Bakkavör Group hf. and its subsidiaries, together referred to as the Group. The Condensed Consolidated Interim Financial Statements are prepared in accordance with International Financial Reporting Standard for Interim Financial Statements, IAS 34. The total sales of the Group amounted to GBP 1,261.9 million. The profit of the period amounted to GBP 4.2 million. According to the Statement of Financial Position Group’s assets amount to GBP 1,518.2 million and the end of period book value of equity is GBP 122.1 million. During March 2009 Bakkavör refinanced its banking facilites and secured funding through to 30 March 2012 across all of the operating subsidiaries. The Group was unable to repay the 2003 bonds on the 15 May when they fell due. The Group has made significant progress in discussions with the lenders to the parent company and has reached an agreement in principle with parties representing around 70% of the parent company debt on heads of terms which include extension of the maturities to 2014. Discussions on the final terms of the agreement are ongoing and the Directors expect to announce a conclusion shortly. The Condensed Consolidated Interim Financial Statements for the period from 1 January to 30 September 2009 have been prepared in accordance with International Financial Reporting Standards as adopted by the EU. It is our opinion that these Condensed Consolidated Interim Financial Statements present all the information necessary to give a true and fair view of the Group´s assets and liabilities, financial position as at 30 September 2009 and operating performance of the period ended 30 September 2009. In our opinon the Condensed Consolidated Interim Financial Statements and report by the Board of Directors and CEO give a fair view of the developement and performance of the Group´s operations and its position and describes the principal risks and uncertainties faced by the Group. 2
Page 1: Condensed Consolidated Interim Fina
Page 5 and 6: Condensed Consolidated Interim Inco
Page 7 and 8: Condensed Consolidated Interim Stat
Page 9 and 10: Condensed Consolidated Interim Stat
Page 11 and 12: Notes to the Condensed Consolidated
Page 17: Notes to the Condensed Consolidated

for 1 January to 30 September 2009 - Bakkavor

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