28/11/2007 10:45
The profits of Options Cassoulides in the first nine months of 2007 fell 38.2% to £743.4 thousand against £1.2 million in the corresponding period of 2006. The EPS stood at 1.6 cents compared to 2.6 cents last year.
Its turnover recorded an increase of 4.6% to £16 million from 15.2% last year, while the cost of sales surged 7% to £11.4 million compared to 10.6 million last year. The selling and distribution expenses showed an increase of 12.4% to £3.7million.
According to OPT, the drop in the net profit is attributable to the fact that the percentage of the cost of sales in the turnover increased from 69.7% in 2006 to 71.1% in 2007. The difference of 1.4% or £223 thousand reflects the increased cost of depreciations due to the large investments in the printing sector.
The drop in profitability is also linked to the increase in selling, distribution and administrative expenses, which include the sum of £100 thousand that represents the non-recurrent removal and transfer expenses to the new printing activities. It also includes the drop in the in the percentage of profit from the offered services in the sector of conferences. The increase in finance cost affected negatively the Company’s profits.
In an announcement released today, the Company supports that the results for 2007 will be lower compared to the results of 2006. With regard to the printing activities, the non-increase in the profit from operations for 2007 was anticipated.
According to the company, 2008 is expected to be profitable for the printing activities.
Its turnover recorded an increase of 4.6% to £16 million from 15.2% last year, while the cost of sales surged 7% to £11.4 million compared to 10.6 million last year. The selling and distribution expenses showed an increase of 12.4% to £3.7million.
According to OPT, the drop in the net profit is attributable to the fact that the percentage of the cost of sales in the turnover increased from 69.7% in 2006 to 71.1% in 2007. The difference of 1.4% or £223 thousand reflects the increased cost of depreciations due to the large investments in the printing sector.
The drop in profitability is also linked to the increase in selling, distribution and administrative expenses, which include the sum of £100 thousand that represents the non-recurrent removal and transfer expenses to the new printing activities. It also includes the drop in the in the percentage of profit from the offered services in the sector of conferences. The increase in finance cost affected negatively the Company’s profits.
In an announcement released today, the Company supports that the results for 2007 will be lower compared to the results of 2006. With regard to the printing activities, the non-increase in the profit from operations for 2007 was anticipated.
According to the company, 2008 is expected to be profitable for the printing activities.
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