Significant rise in profits for Logicom
Logicom Ltd. published its consolidated unaudited results for the period ending 30 June 2001.

The company stated that results of the first six months of 2001 reflect the successful course of the Group and the effective implementation of its plans. Despite negative developments of the stockmarket and of the information technology sector worldwide, the Group showed significant increase of its turnover as well as profits.

Turnover for the period reached CYP 10.501.308, an increase of 108% compared to the corresponding period last year with pre-tax profits rising by 77% to CYP 903.933. Net profits of the Group reached CYP 725.856, an increase of 73%. Earnings per share were 2,40 cents, fully distributed earnings per share 2,30 cents.

The company further notes that despite worldwide depression, it will continue with implementation of its expansion plans abroad, along with its strong presence in the Cyprus market.