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OPT: Losses due to conferences

26/11/2009 14:40
Options Cassoulides recorded losses of €527.7 thousand in the first nine months of 2009 against profits of €295 thousand last year. The losses are attributable to the shrinkage in the turnover by €16.4 million to €14 million from €30,4 million, while a decline of €9.2 million derived from the sector of conferences and €6.6 million from the publications.

The drop in conferences is linked to the world anesthesiology conference held in May 2008 and is held every four years, while publications fell due to the sale of the stake that the Company held in N.D.D Special Publications.

The printing sector also recorded losses of €649.6 thousand.

The selling, distribution and promotion expenses dropped to €3.6 million from €7.5 million.

On the occasion of the announcement of its results, the Company announced that the Board of Directors appointed two new members in the Audit and the Remunerations Committee.