Increased profits for Lemeco Silvex
15/3/2002 10:31
The board of Lemeco Silvex Industries Ltd. approved the final accounts for 2001 of the company during its meeting of the 14 March 2002. The board will not propose dividend payments for 2001 to the AGM scheduled for the 20 June 2002 at the Hilton Hotel.
Turnover for the year reached CYP 2.855.330 compared to CYP 2.534.936 the previous year, an increase of 11,2%, with gross profits of CYP 741.537. Operational profits were CYP 340.263 and pre-tax profits CYP 157.158 compared to CYP 116.587 in 2000. Profits for the year equalled CYP 80.626 compared to CYP 65.247 the previous year, an increase of 23,6%, with earnings per share of 0,24 cents.
The company notes that increased profits are due to increased sales and the board anticipates that prospects appear improved for 2002.
Turnover for the year reached CYP 2.855.330 compared to CYP 2.534.936 the previous year, an increase of 11,2%, with gross profits of CYP 741.537. Operational profits were CYP 340.263 and pre-tax profits CYP 157.158 compared to CYP 116.587 in 2000. Profits for the year equalled CYP 80.626 compared to CYP 65.247 the previous year, an increase of 23,6%, with earnings per share of 0,24 cents.
The company notes that increased profits are due to increased sales and the board anticipates that prospects appear improved for 2002.
