Profit & Loss Sttatement

Description	Notes	2005	2004
		NIS	NIS
Sales Trade		274,380,438	249,783,393
Bandaroll (Excise)		215,131,008	202,606,161
Net Sales		59,249,430	47,177,232
Raw Material Costs		27,402,134	19,073,430
Gross Profit		31,847,296	28,103,802
Expenses
Factory Salaries	1	5,355,323	4,995,140
Factory Expenses	2	2,841,745	995,077
		8,197,068	5,990,217
Trading Profit		23,650,228	22,113,585
OverHeads
Salaries	3	5,863,023	5,894,336
Transport Costs & Maintenance		745,627	463,154
Postage, Telecommunications & Stationery		581,051	414,260
Power, Water & Sewage		1,120,994	714,313
Bank Interest & Charges		1,022,318	1,258,158
Insurance		576,894	986,732
Donations		171,806	146,181
Distribution Costs		616,481	289,838
Travel Costs		304,260	363,126
Depreciation		2,085,988	2,357,074
Promotional Costs	4	341,380	241,424
Amortisation		-	480,521
Warehouse Rental		105,167	11,040
Audit, Legal & Professional Fees		291,872	502,782
Miscellaneous		170,393	106,341
Advertising		110,839	12,647
Commissions		49,388	-
Property Repairs		202,341	83,900
		14,359,822	14,325,827
Net Trading Profit		9,290,406	7,787,758
Rental Income		1,313	364,306
Net Profit		9,291,719	8,152,064
Non Trading Income	5	824,707	1,304,241
United Dividend		-	2,250,000
Profit For Disposal		10,116,426	11,706,305
Income Tax Provision	6	1,393,758	1,630,413
Dividend		-	7,000,000
Retained Profit		7,000,000	-
Voluntary Reserves		-	2,076,779
Investment Provision		2,197,580	2,279,858
Directors Fees & Expenses		53,625	50,738
Compensation Provision		(528,537)	(1,331,483)
		10,116,426	11,706,305