K+G Complex Public Company Ltd presents the Interim Management Statement of the Group for the period from July 1st 2015 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 2014, 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 losses compared to profits in the corresponding period of 2014.
This is due to the results of its associated company, The Cyprus Cement Public Company Ltd, which during the corresponding period of 2014 was showing increased profits compared to reduced profits this year.
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 taking into account the current negative economic situation in Cyprus and the conditions created after the Eurogroup decisions on 25 March 2013, as well as the global crisis, believes that the results for the current year might show fluctuations, which due to the uncertainties in the market, might be difficult to predict.
C.C.C. Secretarial Ltd
Limassol, 23 November 2015