Management Reports • Nov 11, 2015
Management Reports
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11 November 2015
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 11 November 2015, 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 no. 190(I)/2007) and has not been audited by the external auditors of the Company.
The Interim Management Statement was approved at a meeting of the Board of Directors held on 11 November 2015 at the Company's registered office.
The main activities of the Group have not changed and focus on 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 on the operation of two small supermarkets in the tourist area of Larnaka via its subsidiary Charilaou Bros Ltd.
The Group's turnover was slightly reduced in the said period compared to the corresponding period of last year due to the implementation by the Group of stricter client assessment.
During the year, there were no non-recurring or extraordinary activities, which 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 were no material events and transactions beyond the Group's usual business.
There were no material transactions with related parties during the period under review.
The international financial crisis has affected the activities of many domestic customers of the Group, which, in its turn, affected slightly the Group's results compared to those of 2014.
On behalf of the Board of Directors
(sgd)
Charis Charilaou
Chairman
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