Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, the company announces that the results for the year 2004 are expected to be significant lower compared to the corresponding results of 2003
The company made investments to harmonize its operations with the European laws and regulations and to adopt the HACCP system expecting its turnover to increase, taking into consideration that many of the other slaughterhouses would not secure an operation license. However a number of them are still operating and thus the expected turnover was not achieved.
As from first of May there was an increase of more than 170,6% in the price of cereals that had a negative impact on the profitability of the company. The delay in setting new prices and the decline in tourism resulted in building up the stock of the company.
The Board of Directors is taking all necessary steps to improve the results., The final results will highly depend on the ability of the company to sell the stock and the selling price achieved.
The company made investments to harmonize its operations with the European laws and regulations and to adopt the HACCP system expecting its turnover to increase, taking into consideration that many of the other slaughterhouses would not secure an operation license. However a number of them are still operating and thus the expected turnover was not achieved.
As from first of May there was an increase of more than 170,6% in the price of cereals that had a negative impact on the profitability of the company. The delay in setting new prices and the decline in tourism resulted in building up the stock of the company.
The Board of Directors is taking all necessary steps to improve the results., The final results will highly depend on the ability of the company to sell the stock and the selling price achieved.
Thursday, 30 December, 2004 - 10:01