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Toxotis: CSE pushed losses down

18/01/2010 11:53
Toxotis announced on Monday that losses will drop in 2009. According to the announcement, “the net loss of the Group for 2009 fell to €31 thousand compared to a loss of €729.5 thousand in 2008”. This is attributable to the increase in the CSE prices that had as a result the financial assets assessed in fair value to show losses from disposal and revaluation of €3.2 thousand compared to losses of €823.5 thousand in 2008.

During the year, the Group collected dividends of €34 thousand compared to €72 thousand in 2008, while the administrative expenses fell from €55.6 thousand in 2008 to €40.9 thousand in 2009.

On December 31, 2009, its investment property was estimated by independent valuators. No profit or loss resulted from the valuation compared to a profit of €116.6 thousand in 2008.

As for the Group’s prospects for 2010, they will depend on the performance of the CSE general index.