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Tsokkos expects lower results

13/01/2009 10:01
The results of Tsokkos Hotels are expected to drop significantly in 2008. According to an announcement released today, this drop is attributable to the unrealized exchange loss due to the strengthening of the exchange rate of the Swiss franc with the euro.

In 2007, TSH achieved profits of €7.7 million from €14.1 million in 2006. It is the fourth hotel company that issues a profit warning after Kanika Hotels, Constantinou Bros and Louis.

A profit warning was issued by its subsidiary, Dome, too. The reasons were the same.