INCREASE IN PROFITS AND TURNOVER
OF KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.
IN THE FIRST QUARTER OF 2002
Athens Exchange has recently placed Kiriacoulis Mediterranean Cruises Shipping S.A. among the 36 companies, which are included in the table of the qualitative criteria met by the listed companies. It is noteworthy that Kiriacoulis Mediterranean Cruises Shipping S.A. is one of the 7 companies, which Athens Exchange included in the particular table in 2003, since it fulfils all the required criteria such as transparency, investors’ relations, corporate governance and maintenance of a free float etc. Last Saturday the management of Kiriacoulis Mediterranean Cruises Shipping S.A. gave a company presentation to the general public in the context of the multi-conference forum MONEY SHOW at Zappion – Aegli. Topics of the presentation were the Group’s activities, financial figures, and investment projects in progress. This presentation as well as a number of others scheduled by the company aim at providing reliable and equitable information to the investors.
The company’s inclusion in the table of the qualitative criteria is a reward of management’s efforts to always meet the criteria set by Athens Exchange. Additional to this success and after having ensured by the company’s management the 5 hour continuous trading of its shares, it is also noted that the company’s growth is still continuing despite the adverse conditions in the tourism industry internationally.
Kiriacoulis Mediterranean Cruises Shipping S.A., during the last five years of presence in Athens Exchange, has demonstrated a steady increase in its financial figures.
In the first quarter of 2003, a period during which tourist trade is limited and many adverse events for the tourism industry took place (Iraq war, economic recession etc.), the company managed to increase its profitability compared to that in same period last year. Typical is the fact that for the first time Kiriacoulis Group recorded profits in the first quarter of this year. The management expects that the company’s profitability will also increase in the full year 2003 (1/1-31/12/2003).
More precisely, within the period 1/1-31/3/2003, the company’s profit before taxes rose by 8,62% amounting to € 127.846,02 from € 117.698,19 in the same quarter of 2002 and the company’s turnover (net sales) grew by 4,65% reaching € 866.903,25 from € 828.369,22 last year. The Group’s turnover in the first quarter of 2003 reached € 4.313.256,82 whereas in the same period last year it amounted to € 2.728.403,05. The Group’s profit in the first quarter reached € 34.478,13 compared to a loss of € 88.240,70 in the corresponding period in 2002.
The Board of Directors of Kiriacoulis Mediterranean Cruises Shipping S.A. will propose to the Annual General Meeting of the company’s shareholders the payment of a € 0,049 dividend per share, distinctly increased as compared to that paid last year.
Athens, June 3rd, 2003
