Louis is expected to record impressive profits in 2006. According to a presentation to foreign institutional investors in London – attended by seven Greek companies and one Cypriot – the net profits in 2006 are expected to show an increase that might even reach the impressive 50%. Its turnover is expected to surge by 14%. “64% of the Group’s sales in 2006 derives from the cruises and the remaining from the hotel business”, the management said.

Among the institutional investors that attended the presentation were Deutsche Bank, JP Morgan, Merill Lynch and Morgan Stanley.

Hotel management

Louis, which is listed in the CSE since 1999 with total capitalization of £130.19 million, announced on Thursday that its its subsidiary Louis Hotels Public Company Ltd signed an agreement with the Egyptian company “Tower Group” for the management of a hotel unit, which is under construction. For the provision of its services, Louis will receive a percentage on the total income and profits. The hotel unit is situated in the most popular tourist resort in Egypt, Sharm El Sheik and is expected to operate in April 2008. It has 340 rooms, 4 restaurants, a health center, a diving center, swimming pools and all facilities of a luxury 5-star hotel.

“This new cooperation falls under the Group’s strategic for a new expansion of its activities in the hotel sector in countries other than Cyprus and Greece”, the announcement reported.