Orphanides: Six-month results 2012 on 29/8 – Profit Warning
4/7/2012 12:03
Pursuant to the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, Orphanides Public Company Limited announces that:
The results for the six months ended June 30, 2012 are expected to show significant decrease (loss) compared to the corresponding results of 2011. This drop is mostly attributable to:
i) The decline in sales due to the unprecedented financial crisis and its impact on the Group’s profitability.
ii) The deficit from revaluation of investments in banking capital securities.
iii) The increase in the Group’s finance cost.
iv) The significant increase in electricity prices after Mari.
The Board of Directors will meet on Wednesday, August 29, 2012 at 16.00 at the Company’s Head Office to examine the six-month results for the period ended June 30, 2012.
The results for the six months ended June 30, 2012 are expected to show significant decrease (loss) compared to the corresponding results of 2011. This drop is mostly attributable to:
i) The decline in sales due to the unprecedented financial crisis and its impact on the Group’s profitability.
ii) The deficit from revaluation of investments in banking capital securities.
iii) The increase in the Group’s finance cost.
iv) The significant increase in electricity prices after Mari.
The Board of Directors will meet on Wednesday, August 29, 2012 at 16.00 at the Company’s Head Office to examine the six-month results for the period ended June 30, 2012.
