The Cyprus Cement Public Company Ltd presents the Interim Management Statement for the period from July 1, 2012 to date, which has been prepared pursuant to the provisions of article 11 of the Transparency Requirements Law 2007 (Ν190 (I)/2007).
Nature of activities
The main activities of the Group remain the same as in 2011 and focus on the land development and the strategic investments in the hotel sector and the sector of production and sale of cement.
During the period, the Group showed losses compared to the zero profit in the corresponding period of 2011. The increased losses are mostly attributable to the fact that the subsidiary CCC Tourist Enterprises Public Company Ltd enjoyed profits from the land development and the construction of luxury villas for sale.
Events and transactions
There were no significant events or transactions affecting the Company’s condition during the period.
Developments and prospects
The Board of Directors and the Management believe that under the current circumstances and taking into account the global crisis, the results for 2012 might show fluctuations, which due to the uncertainties in the market, might be difficult to predict.
C.C.C. Secretarial Ltd
Limassol, 20th November 2012