You are here

Zorpas sees its profits falling

26/11/2007 12:48
The profits of Zorpas in the first nine months of 2007 recorded a significant drop of 23.1% to £1.4 million against £1.8 million in the corresponding period of 2006.

According to an announcement released today, this drop is linked to the increase in the cost of markets, the row materials and the third products.

The turnover surged 5.1% to £25.5 million against £24.2 million in 2006 due to the expansion of the Group’s shop network.

On the other hand, the profit from operations fell 23.9% to £1.5 million compared to £2 million last year.

The cost of sales increased by 5.5% to £16.1 million against £15.3 million in 2006. The selling and distribution expenses recorded an increase of 14.3%, while the administrative expenses showed an increase of 5%.

The gross profit surged 4.4% to £9.3 million against £9 million last year.

Zorpas expects that the results for the full year 2007 will be the same as last year’s.