At a meeting held today, the Board of Directors of Renos Hadjiioannou Farm Public Company Ltd approved the audited results for 2009 and decided that the Annual General Meeting will take place on Wednesday, May 26, 2010 at 5.00 pm at the Company’s Office, 48 October 28th, Makedonitissa, Nicosia. The sales dropped to €1,437,724 from €1,729,602 in 2008, while the after tax profit stood at €1,076,032 compared to a loss of €1,824,013 in 2008. The EPS stood at 0.44 cents from 0.67 cents in 2008. This difference is attributable to the interests and other banking obligations that were returned in 2009 and had been recognized as expenses in the previous years. As the Company is reaching agreements with the banks, more sums will be presented as accounting profit and, as a result, it is expected to be profitable in 2010 too.
There is a positive divergence from the indicative results, which is attributable to the write-off of older interests that had not been calculated at the preparation of the indicative results.
The sales are still nerveless and the Company is not in the position to make forecasts for the course of the results from activities in 2010. The actions for the dissociation of the subsidiary FRH Food Ltd proceed and as soon as they conclude, the Company will issue the relevant announcement.
There is a positive divergence from the indicative results, which is attributable to the write-off of older interests that had not been calculated at the preparation of the indicative results.
The sales are still nerveless and the Company is not in the position to make forecasts for the course of the results from activities in 2010. The actions for the dissociation of the subsidiary FRH Food Ltd proceed and as soon as they conclude, the Company will issue the relevant announcement.
Friday, 30 April, 2010 - 17:38