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KEO: Increased profits due to subsidiary

18/11/2014 14:54
KEO’s profits recorded an increase in 2014 due to the sale of its subsidiary Fifty Frith Street based in London.

According to its interim management statement, the Groups profit before taxation during the first 9 months of the year, has showed an increase by €697.000 in comparison to the corresponding period of last year. This increase is due to the sale of the entire share capital of the subsidiary company Fifty Frith Street Ltd, based in the United Kingdom and from which resulted a profit of €829.000 for the Group (€4.996.000 for the Company).

The Group's turnover was maintained at the same level as the turnover of the corresponding period of last year.

In accordance with a resolution of the Board of Directors dated 25 September 2014, on 31 October 2014 the Company paid an interim dividend for the year 2014 of the total amount of €1.548.931,10 which corresponds to €0,05 for every fully paid ordinary share.

In 2013, the Company’s losses stood at €8.9 million against losses of €8 million in 2012.

In the first half of 2014, its losses amounted to €286 thousand.