During the meeting of the Board of D.H. Cyprotels Ltd., the audited results for the year ending 31 October 2000 were examined and approved. Results do not include results attributable from the Columbia Resorts Rhodes which was acquired at a later stage. Gain by dilution is derived from reassessment of investments of Astarti Development Co. Ltd. after the issuance of new shares of Astarti to shareholders of Libra Aviation Ltd. Which reduced the company’s percentage in Astarti from 51% to 10%.
Sales for the year rose to CYP 12.007.000 compared to CYP 5.455.000 the previous year with mixed profits of CYP 9.363.000 and operational profits of CYP 3.722.000 with profits from operations CYP 2.253.000. Pre-tax profits were CYP 3.569.000 compared to CYP 1.521.000 in 1999 with net profits of CYP 3.042.000. Earnings per share were 2,2 cents on an average number of 138.519.289 shares.
During 2000 there were major improvements to newly acquired hotel units and organisational restructuring which reflects on the year’s results but are anticipated to positively effect the results of 2001.
Sales for the year rose to CYP 12.007.000 compared to CYP 5.455.000 the previous year with mixed profits of CYP 9.363.000 and operational profits of CYP 3.722.000 with profits from operations CYP 2.253.000. Pre-tax profits were CYP 3.569.000 compared to CYP 1.521.000 in 1999 with net profits of CYP 3.042.000. Earnings per share were 2,2 cents on an average number of 138.519.289 shares.
During 2000 there were major improvements to newly acquired hotel units and organisational restructuring which reflects on the year’s results but are anticipated to positively effect the results of 2001.
Monday, 2 April, 2001 - 00:00