Athens, May 29th, 2008
I.Kloukinas-I.Lappas SA announces – Financial results for the
The Group’s turnover amounted to 14.933.145 € over 11.700.160 €, an
increase of 27,63% over the first trimester of 2007.
The Group’s profits before taxes amounted to 2.342.501 € over
2.714.769 € for the first trimester of 2007, decreased by 13,71 %.
The profits after taxes and rights of minority amounted to 1.785.352
€, over 2.122.361 € decreased by 15,88% over the first trimester of
Operating profits before taxes interest and depreciation( EBITDA )
amounted to 3.089.828 € over 3.220.053 € over the first trimester of
2007,decreased by 4,04 %,
The Commercial sector’s turnover amounted to 8.961.050 € over
7.928.482 € , an increase of 13,02% over the first trimester of 2007.
The Construction sector’s turnover amounted to 5.801.835 € over
3.730.223 € the first trimester 2007, an increase of 55,54%.
The results of the company’s 100% subsidiary COMPTON HOUSE HELLAS (ELC)
are included in the commercial sector’s profit & loss account as at
31.03.08 (Sales 894.950 € , losses after taxes 94.260 €). In the
comparable interim financial statements as at 31.03.07, COMPTON HOUSE
HELLAS is not consolidated due to its acquisition by the parent
company in November 2007.
The results of the current period were burdened by the increased cost
(lease and personnel salaries) of 6 new stores in Hios, Korinthos,
Tavros, Larissa, Alimos and Thessaloniki (they will operate in the
second trimester) as well as by the interest expense of the 6 m.€
loan, amounted to 120.000 €, which was acquired for the bought out of
the Early Learning Center. It is noted that in the first trimester ELC
generated losses amounting to 94.260 € due to the children’s toys
Moreover in this period the commercial sector ‘s sales did not present
the anticipated sales due to the strike in the major harbours of the
country, demonstration in the center of Athens as well as the fact
that the Greek Orthodox Easter was celebrated 3 weeks later, at the
end of April, in comparison with last year. In April, sales have
increased by 36% without the participation of the above new stores.
The management estimates that the annual results will be in line with
the reported predictions.
The Interim financial statements for the period 01.01-31.03.08 were
published in 28.05.08 in the press (Kerdos) and disclosed to the
company’s website www.klmate.gr and
to the Athens Exchange Stock website