M&C announced group and company unaudited earnings results for the first half year ended June 30, 2014. For the period on consolidated basis, the company reported revenue from sales and services of EUR 90,000. Operating loss was EUR 944,028 against EUR 1,148,946 a year ago. Pre-tax loss was EUR 5,468,526 against pre-tax income of EUR 65,302 a year ago. Loss for the period was EUR 5,487,133 against profit of EUR 56,643,000 a year ago, mainly due to the impairment loss of 5.2 million recognized on the investment in Treofan to align the investment's carrying amount with the amount identified by the impairment test. Diluted loss per share was EUR 0.0135 against diluted earnings per share of EUR 0.0001 a year ago.

For the half year on company basis, the company reported revenue from sales and services of EUR 90,000. Operating loss was EUR 945,000 against EUR 1,152,000 a year ago. Pre-tax loss was EUR 11,775,000 against EUR 1,980,000 a year ago. Loss for the period was EUR 11,754,000 against EUR 1,989,000 a year ago. Diluted loss per share was EUR 0.0289 against EUR 0.0049 a year ago.