The financial results of KRI- KRI S.A. MILK INDUSTRY increased significantly - by 27% - during the first quarter of the running period compared to the equivalent of last year's period. In particular they run into 275,320 Euros, while last year they ran into 216,660 Euros.

At the same time, the EBITDA (Earnings Before Interests, Taxes and Depreciations) increased by 14,8%, during the first quarter of 2004, as they run from a mere 584,200 euros into 670,220 Euros. The annual turnover amounted in 3,88 million euros compared to last year's 3,22 millions euros, thus presenting a rise of 20,55%.

Meanwhile, in a consolidated level, the company's sales amounted in 4,135 million euros, against 3,415 million euros, increased by 21,1% compared to the first quarter of 2003.

According to the company's Management this major rise of the financial results during the first quarter of 2004, is owed mainly in the increase of exports as much in the Balkans as in other European countries, the promotion of profitable new ice cream and yogurt products, as well as in the expansion of the company's domestic commercial network. At the same time, the company's growth was greatly boosted by the return on investment in machinery but also by its entry in the Athens Stock Exchange last July.

Moreover, the recent launch of four new yogurt products ("Yogurt from Serres KRI-KRI" strained and cow's yogurt) is expected to increase considerably the company's financial results, particularly its turnover, which is estimated to be increased by 27% compared to last year leading to a similar increase in profits.

At the same time KRI-KRI S.A, according to its investment planning, moves to rearrange its logistics operations in collaboration with an engineer advisor firm specialized on logistics & supply chain management "The Logistics Group". The process mentioned above is expected to be completed within the following year and is expected to reduce its operational costs of the supply chain as well as to support its further development in Greece and abroad.