The company announces that the positive progress in the turnover has not been the expected, while the negative progress, which appeared the last trimester of 2008, was still apparent in the Α semester 2009. The Β trimester of this fiscal year, the company had an increase in the rate of sales in comparison to A trimester of the same year, however, the A semester appeared to have losses -41.2 %, in levels of group.
A further qualitative analysis concerning the losses of Α semester of 2009, proves that the decrease of 20 % was expected, taking in account that, in this period specific contracts were completed, but the remaining (21.2 %) is due to the decline of the market demand, a fact that begun in the end of 2008 and still enlarging because of the international financial crisis. The new project, concerning the signed contract with the European Committee for the supply of office furniture to all services of European Union, value 30,4 mil euro, has begun since the end of July. The turnover of the deliveries till 30/09/09 is expected to reach 2,5 mil euro and until the end of the year 5,5-6 mil euro.
Under these circumstances, it is expected that until the end of the year, the company will reach the same levels of sales as in 2008, with a deviation of +/- 5 - 10 %, which is expected to conclude in positive total financial results. One of the reasons is also the retention of the General Expenses by 20% in comparison to 2008.