We would like to inform investors that based on the developments to date, the Group’s trading
activities are expected to be affected due to the negative impact on sales to the Group’s retail
clients in the tourist areas from a potential decrease in tourist arrivals. Any delays in the import
of raw materials and mainly flours – our primary raw material – may also affect the Group’s
In addition, the Group’s investment portfolio is expected to be negatively affected due to the
drop in the international stock exchanges. We estimate, however, that the impact will be
temporary and short-term, to be followed by a recovery in the medium term thanks to the
selective investments held by the Group.
It is noted that the Group will soon increase product prices to cover the increased energy and
raw material costs. We are taking all necessary measures to minimise the impacts of the crisis
caused by the war in Ukraine.
FOR ALKIS H. HADJIKYRIAKOS
(FROU FROU BISCUITS) PUBLIC LTD
115, Grigori Afxentiou Avenue, Kokkinotrimithia Industrial Area, 2660 Nicosia, Cyprus
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