Financial Results 6 months 2011

Net profit of the listed company EYATH S.A. increased by 92.3% during the 6 month period of 2011, reaching €12 mil. from €6.2 mil. the respective period last year. Revenue reached the amount of €38.89 mil. from €37.73 mil. the respective period last year succeeding an increase of 3%, whereas the profits before tax reached the amount of €15 mil. from €12.94 mil. last year presenting an increase of 16%.

The impressive profits increase can be explained mainly to the decrease and the rationalization of costs of every kind (administration and distribution), the increase of revenue and the decrease of the tax burden. It is noted that during the previous period the company was charged additionally with the extraordinary payment of the law 3845/2010 as well as the additional taxation from the tax audit differences for the previous five years (2004-2008).

“The policy exercised from the EYATH management during the recent period was aiming towards the minimization of the expenses and the completion of abeyance of the previous management. The results of the current 6 month period reflect the real situation of the company, which is financially robust, with high profitability and increased liquidity”, notes the CEO of the company Nikos Papadakis.