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Lower results for Agros

28/12/2010 10:49
The results of Agros “Proodos” Development Company Public Ltd are expected to be lower in 2010.

According to the announcement released today, “the reasons that the final results are expected to be lower than those of 2009 are 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 drop in social tourism as a result of the economic crisis.

However, the Company announced that the final results for the year ending December 31, 2010 are expected to be better than those of the first half of the year but lower than those of 2009. The improvement in the second half is attributable to the traditionally increased tourist arrivals during summer.

In 2009, the Company enjoyed profits of €587.7 thousand against €305.3 thousand in 2008.

In the first half of 2010, the Company accumulated losses of €187.5 thousand against losses of €63 thousand in the first half of 2009.