Orphanides' Progress Outlined during AGM
28/6/2001 10:28
During the 3rd AGM of Orphanides Supermarkets Ltd., the substantial increase of 82,08% of turnover of company for 2000 was highlighted, mainly attributed to the increase of sales of the Larnaca, Limassol, Paralimni and Paphos supermarkets. Mixed profits rose to CYP 8.935.445, an increase of 66,46% compared to the previous year with operational profits increased by 80,14% and after-tax profits of CYP 1.460.892, an increse of 13,64%. Earnings per share for the year were 1,81 cents.
During the meeting reference was made to the most recently acquired supermarkets of the company and their success outlined, as well as the development plans of the company for further expansion in Paphos, Limassol and Larnaca. Orphanides Supermarkets will commence imports of around 100 own label products as of 2 July 2001, anticipating a range of around 300 products by the end of 2002. The company already imports exclusive products from around 40 exporters from a total of 80 with which it cooperates.
During the meeting reference was made to the most recently acquired supermarkets of the company and their success outlined, as well as the development plans of the company for further expansion in Paphos, Limassol and Larnaca. Orphanides Supermarkets will commence imports of around 100 own label products as of 2 July 2001, anticipating a range of around 300 products by the end of 2002. The company already imports exclusive products from around 40 exporters from a total of 80 with which it cooperates.
