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Agros hit by ash cloud, crisis, dividend

28/06/2010 16:31
Agros Development “Proodos” is expecting lower results in the first half of 2010. According to an announcement released today, “this is mostly attributable to the volcanic ash cloud that did not allow the arrival of tourists from Northern Europe in mid April, the global economic crisis that affects negatively the revenues from the stays and events and the decision of the Board of Directors to pay a dividend to the Company’s staff”.

In relation to its prospects, the Company expects that the results by the end of the year will show improvement due to the traditionally increased tourist arrivals during summer.

In 2009, the Company achieved profits of €586.5 thousand against €304.1 thousand in 2008.