Based to the Cyprus Stock Exchange and Cyprus Securities and Exchange Commission regulations and in order to fully inform the shareholders and the investing public in general, the Group C.C.C. Tourist Enterprises Public Company Ltd announces that during the first six months of 2015 will show profits compared to significant losses in the corresponding period of 2014.
The improvement on results is mainly due to the reduction in financial expenses and interest of its associated company, L’ Union Nationale (Tourism and Sea Resorts), and the profits arising from the completion of the sales of houses in the partnership L’ Union Branded Residence.
Additional in 2014, CCCT has recognized loss of €1,4 million after the completion of the agreement with the investor Emerald Coast Properties Ltd and the issue of share capital of L ‘Union. This amount was the difference between the carrying value of the assets of L’ Union attributable to the Company before and after the completion of the Agreement.
C.C.C. Secretarial Ltd
Limassol, 2nd July 2015