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OPT: Profit Warning due to crisis

29/07/2009 11:00
Options Cassoulides expects lower results in 2009, since its turnover in the sectors of conferences and printing has shrunk. According to an announcement released today, “this drop is attributable to the economic crisis, which has affected negatively the Group’s activities in Cyprus and overseas”.

In the first half of 2008, the Company enjoyed profits of €187 thousand. This year’s results, however, will be lower than those of 2008.

In 2008, OPT suffered losses of €2.3 million against profits of €1.6 million in 2007.

In the first quarter of 2009, the Company recorded losses of €145.3 thousand against profits of €603.2 thousand in the corresponding period of 2008. The losses emerged from the drop in the turnover due to the lower activity in the sector of conferences and publishing.