Management Reports • Nov 24, 2016
Management Reports
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23 November 2016
The Board of Directors of CH Charilaou Group Plc (the "Company") presents the Group's Interim Management Statement for the period from 1 July to 22 November 2016, which has been prepared pursuant to the provisions of Article 11 of the Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law of 2007 (Law Νo. 190(I)/2007) and has not been audited by the Company's external auditors.
The Interim Management Statement was approved at a meeting of the Board of Directors held on 23 November 2016 at the Company's registered office.
The main activities of the Group have not changed since last year and consist in the wholesale trade of tourist products, drinks, candies, traditional products, spices, olive oil, cosmetics and chocolate products in Larnaca, Limassol, Nicosia, Paphos and the free area of Famagusta, as well as the operation of two small supermarkets in the tourist area of Larnaka via its subsidiary, Charilaou Bros Ltd.
The Group's turnover has slightly increased in the said period compared to the corresponding period of last year as a result of the import of new products.
During the year, there have been no non-recurring or extraordinary activities which have affected the Group's financial situation.
The main risks and uncertainties faced by the Group are the same as those announced by the Company in previous years.
There have been no material events and transactions beyond the Group's ordinary business.
There have been no material transactions with related parties during the period under review.
The rise in tourism has had a positive impact on the activities of many of the Group's clients in Cyprus and, in turn, has positively affected the Group compared to the results of 2015.
| On behalf of the Board of Directors |
|---|
| (sgd) |
| Charis Charilaou |
| Chairman |
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