Review
Group invoiced sales increased by 7.9%, to Euro 21.8 mio (20.2 in 2006). Total group sales (including indent sales) increased by 2.7 % to Euro 22 mio (21.4 in 2006). Net profit after tax and minority rights rose to Euro 929.000 (Euro207.000 in 2006).
Sales growth was achieved both by Commercial Vehicle and Automotive Machinery Divisions.
The profit increase is due to improved gross profit of Isuzu Pickups, Scania Trucks & Buses and Engines & Boats Business Units. The Company?s Board of Directors takes the view that this rate of increase may not be sustainable over the rest of the year. For this reason the announced profit forecast of 10% from continuing operations above 2006, stands.
The Company was established in Thessaloniki in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks, buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving and industrial equipment. The Company has a leading position in the Greek market in the sectors of its activity.
For further information, please contact Ms. Athina Tsiaga, tel.: 210 3499211.