C.T.O: Interim Management Statement
20/11/2009 9:28
At the meeting held on November 19, 2009, the Board of Directors of C.T.O Public Company Ltd examined and approved the Interim Management Statement for the period from July 1, 2009 to November 18, 2009. The Interim Management Statement has been prepared pursuant to the provisions of Article 11 of the Transparency Requirements Law 2007 and has not been audited by the external auditors of the Group.
Main activities
The main activity of the Company focuses on the production and sale of paper hygiene products. The Company holds the following subsidiary:
Name: Explosal Ltd
Stake: 100%
The main activity of the subsidiary is the production and trading of tobacco products, as well as the construction activities and the sale and purchase of land.
Non recurrent or extraordinary activities
There were no other non-recurrent or extraordinary activities during the period.
Other corporate facts
The Group examines the developments of the retail trade of paper hygiene products and acts in such a way to secure its upward trend, expanding its customers’ list and reducing its cost of production.
Also, in 2009 the Group proceeded with the import of tobacco products in the Cyprus market, taking advantage of the existing distribution network and the customers’ base. This resulted to the increased sales.
There were no other facts or transactions affecting the Company’s condition during the period.
Main risks and uncertainties
The main risks and uncertainties are described in the Annual Report 2008 and in the Interim Management Statement dated 13/5/2009. We should also add the risks and uncertainties that have emerged from the current global economic crisis.
Main activities
The main activity of the Company focuses on the production and sale of paper hygiene products. The Company holds the following subsidiary:
Name: Explosal Ltd
Stake: 100%
The main activity of the subsidiary is the production and trading of tobacco products, as well as the construction activities and the sale and purchase of land.
Non recurrent or extraordinary activities
There were no other non-recurrent or extraordinary activities during the period.
Other corporate facts
The Group examines the developments of the retail trade of paper hygiene products and acts in such a way to secure its upward trend, expanding its customers’ list and reducing its cost of production.
Also, in 2009 the Group proceeded with the import of tobacco products in the Cyprus market, taking advantage of the existing distribution network and the customers’ base. This resulted to the increased sales.
There were no other facts or transactions affecting the Company’s condition during the period.
Main risks and uncertainties
The main risks and uncertainties are described in the Annual Report 2008 and in the Interim Management Statement dated 13/5/2009. We should also add the risks and uncertainties that have emerged from the current global economic crisis.
