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Stario: Interim Management Statement

At the meeting held on November 17, 2011, the Board of Directors of Stario Portfolio Investments Public Company Ltd examined and approved the unaudited Interim Management Statement of the Company and its subsidiaries, pursuant to article 11 of the Transparency Requirements Law 2007.

In order to fully inform the investing public, the statement must be read in connection to the annual financial statements for the year ended 31/12/2010.

Nature of activities

The main activity of the Company remains the same and focuses on business administration via its subsidiaries in the sector of cafes and restaurants.

Economic condition

The financial results for the period from July 1, 2011 to November 16, 2011 reflect the management of its trading business in the sectors of cafe-restaurants and leisure.

The revenues from operating activities stem from the revenues of the subsidiaries.

The Company has also reduced its operating and other expenses so as to deal with the tough conditions of the economy.

Facts and transactions

There are no other facts or transactions affecting the Company’s condition during the period.

Future developments

The Board of Directors is examining the strategies for the improvement of the existing activities as well as their possible reorganization to the benefit of its shareholders.

Transactions of associated persons

There were no transactions of associated persons during the period.

Main risks and uncertainties

The main risks and uncertainties are the same as those described in the Annual Report 2010.


Friday, 18 November, 2011 - 08:56