K+G Complex Public Company Ltd presents the Interim Management Statement of the Group for the period from July 1st 2014 until today. The Interim Management Statement has been prepared in accordance to the provisions of Article 11 of the Transparency Requirements (Securities Admitted to Trading on Regulated Market) Law of 2007 (Ν190 (I)/2007).
The principal activities of the Group remain the same as those in 2013, which are the development and sale of residential units, development and sale of land located in the Amathus area of Limassol and holding of investments.
During the reporting period, the Group shows improved profits compared to the corresponding period in year 2013. This is due to the improved results of the associated Company, The Cyprus Cement Public Company Ltd, which shows significant profits compared to losses to the corresponding period in year 2013. We would like to note, that although the Group shows profits in the period of reference, for the whole year, from January 1st until today it shows increased losses.
Events and transactions
There have been no other significant events and transactions, other than the normal operations activities of the Group, which have an impact on the financial position of the Group.
Developments and Prospects
The Board of Directors and the Management believe that under the current circumstances and taking account the operating environment of Cyprus and the conditions created after the Eurogroup decisions on 25 March 2013 and the global crisis, the results for 2013 might show fluctuations, which due to the uncertainties in the market, might be difficult to predict.
C.C.C. Secretarial Ltd
Limassol, 25th November 2014