K+G Complex Public Company Ltd presents the Interim Management Statement of the Group for the period from July 1st 2016 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 2015, 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 increased profits compared to losses to the corresponding period of 2015. This is due to realisation of Plots Sales during the reporting period and the improved results of its associated company, The Cyprus Cement Public Company Ltd, which shows significant increased profits compared to the corresponding period of 2015.
Events and transactions
There are no other significant events and transactions, other than the normal operations activities of the Group, which have an impact on Group’s financial position.
Developments and Prospects
The Board of Directors and the Management taking into account the current negative economic situation in Cyprus, as well as the global crisis, believes that the results for the year might show fluctuations, which due to the uncertainties in the market, might be difficult to predict.
C.C.C. Secretarial Ltd
Limassol, 18th November 2016