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Ch. Charilaou Group Plc Management Reports 2017

Sep 28, 2017

2453_ir_2017-09-28_7741f87f-0b8c-4e54-88c6-86a9ef30e3f0.pdf

Management Reports

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CH. CHARILAOU GROUP PLC

28 September 2017

ANNOUNCEMENT

Supplementary Interim Management Statement

In order to facilitate investors and further to our announcement dated 15 September 2017, we wish to clarify the following with regard to the Interim Management Statement.

Transactions with related parties

During the period under review there have been no commercial transactions between the Company and its related parties nor any contracts between them other than those stated in note7 to the unaudited financial statements for the period from 1st January 2017 to 30th June 2017.

Prospects for the second half of 2017

The favourable conditions in the tourism industry in the last year are expected to have a positive impact on the Group during the second half of the year.

The Management deems that it takes all necessary measures and makes continuous efforts to improve the Group's financial results. For the second half of 2017, the Management has set the objective of increasing its turnover through a decrease in operating costs and the enrichment of the Group's products with new competitive items.