Rise in Profits of 30,35% for Orphanides
2/4/2001 0:00
During the Board meeting of Orphanides Supermarkets Ltd. on the 30 March 2001, the preliminary pre-audited results of the company were approved.
Turnover increased by 82,08% compared to the previous year reaching CYP 68.761.447, attributed to increased sales at existing stores as well as to the acquisition of three new supermarkets during the year.
Pre-tax profits rose by 30,34% to CYP 2.016.920 with profits attributable to shareholders reaching CYP 1.510.477 and earnings per share of 1.87 cents, fully distributed earnings per share 1.68 cents, an increase of 15,43%.
The company is proceeding with its expansion plans for the current year by implementation of its “own label” products as well as its own imports and has acquired land for the construction of new supermarkets in Limassol and Paphos with negotiations underway for land in Larnaca.
Turnover increased by 82,08% compared to the previous year reaching CYP 68.761.447, attributed to increased sales at existing stores as well as to the acquisition of three new supermarkets during the year.
Pre-tax profits rose by 30,34% to CYP 2.016.920 with profits attributable to shareholders reaching CYP 1.510.477 and earnings per share of 1.87 cents, fully distributed earnings per share 1.68 cents, an increase of 15,43%.
The company is proceeding with its expansion plans for the current year by implementation of its “own label” products as well as its own imports and has acquired land for the construction of new supermarkets in Limassol and Paphos with negotiations underway for land in Larnaca.
