PRESS RELEASE
The consolidated results of the Sarantis Group displayed a growth in sales of 19% and earnings of 10% in the first half of 2000, compared to the first half of 1999. In terms of operating profits, Sarantis shows an impressive growth of 70% in comparison to the corresponding period last year.
Specifically, the consolidated sales of the Sarantis Group reached GRD 23 billion in the first half of 2000, compared to GRD 19.3 billion in 1999. Earnings before tax were, for the same period, GRD 2.65 billion, in comparison to GRD 2.4 billion in 1999.
The above results do not include the figures for K. P. Marinopoulos SA, which was acquired by Sarantis by 49% last April. At the same time, in the first half of 2000, Sarantis posted losses from loan exchange currency differences of GRD 812 million in comparison to GRD 156 million during the corresponding period last year.
Finally, for the same period, the Group had increased depreciations by 77% in comparison to 1999. The results of the first half are due to the exceptionally positive course of sales in Greece as well as that of the Group’s subsidiaries in the Balkans. At the same time, impressive growth rates are displayed by the Group’s subsidiaries in the areas of products for pharmacies, pets, as well as car accessories.
In terms of operating cost, the Sarantis Group has considerably benefited by the operation of the new production and storage facilities at Oinofita, Viotias. The new facilities constitute a highly advanced industrial unit for the production and distribution of cosmetics other household products and started operating last August. The total investment cost reached GRD 6 billion and the buildings covers a total area of 27,000 sq. m.
The new production and distribution center of the Sarantis Group has been especially designed to cover the needs of the Eastern European market, while significant exports are made to Western Europe as well. For 2000, consolidated sales of GRD 68 billion are projected, while operating profit before tax is expected to exceed GRD 7 billion.
Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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