Pursuant to the provisions of the CSE and SEC Regulations and in order to fully inform the shareholders and the investing public in general, Alkis H. Hadjikyriacos (Frou-Frou Biscuits) announces that the results for the first half of 2014 are expected to show improvement compared to those of the corresponding period of 2013, despite the deterioration of the problems in the market.
The austerity measures taken by the Company, the reorganization of the Group’s organizational structures so as to be in line with the new data of the recession, the distribution of the Bakandys products and the acquisition of the production unit of the Mon Ami desserts are strategic moves with good prospects of growth and are expected to contribute to the recovery of the Group’s results.
The Board of Directors and the Management believes that the new readjustments and new activities will contribute to cover the losses from the financial crisis and the Group is on track for an improved performance despite adversities.
