AI assistant
Ch. Charilaou Group Plc — Management Reports 2016
Nov 24, 2016
2453_ir_2016-11-24_0420ab3a-508d-4782-968d-a8f40c505556.pdf
Management Reports
Open in viewerOpens in your device viewer
CH. CHARILAOU GROUP PLC
23 November 2016
ANNOUNCEMENT
SECOND INTERIM MANAGEMENT REPORT 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.
General review of the Group's financial situation and performance
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.
Non-recurring or extraordinary activities
During the year, there have been no non-recurring or extraordinary activities which have affected the Group's financial situation.
Main risks and uncertainties
The main risks and uncertainties faced by the Group are the same as those announced by the Company in previous years.
Material events and transactions
There have been no material events and transactions beyond the Group's ordinary business.
Transactions with related parties
There have been no material transactions with related parties during the period under review.
Objectives and Prospects
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 |