The Annual Shareholders' Meeting of "ALFA-BETA" VASSILOPOULOS S.A. was convened on April 28th, 2006. The Managing Director Mr. Macheras presented to the shareholders the evolution of financial figures of the Company for the fiscal year 2005 and referred to the considerable initiatives taken by the Company during the year, aiming to reinforce its competitive position. Mr. Macheras said that the Company is developing a sales network consisting of different store formats, it is extending its product assortment, especially its own-label products offered at competitive prices including a very attractive price proposition with its 365 product range. To that end the Company lowered the prices in 2,000 basic products. Apart from the strengthening of competitiveness, emphasis was given on the creativity and the innovations that characterize "ALFA-BETA" operations, as well as on the personnel's dedication on offering top line service to the customers. Company's Management expressed its commitment for the best possible results for the Company's shareholders. Mr. Macheras also presented the results of the first Quarter 2006 and said that all the above-mentioned measures continued to contribute to the improvement of both sales and results in comparison to the same period last year despite the strong competition, which characterize the food retail sector. Thus, Consolidated Turnover (Sales) increased in the first Quarter 2006, by 9.6% and amounted to 235.8 million EUR from 215.2 million EUR in Q1 2005, while for "ALFA-BETA" standalone Turnover (Sales) amounted to 230.5 million EUR from 210.3 million EUR in 2005, an increase also by 9.6%. Consolidated Profit before Tax was significantly improved in comparison to Q1 2005, and amounted to 3.0 million EUR, from 0.4 million EUR in Q1 2005. For "ALFA-BETA" standalone Profit before Tax amounted to 3.0 million EUR compared to 0.9 million EUR in Q1 2005. Finally, Mr. Macheras presented the Company's development program. For 2006, "ALFA-BETA" plans to add 19 stores to its sales network, franchising stores included, extending it to 154 stores. The Meeting approved the Annual Financial Statements of December 31, 2005 and the payment of 0.31 EUR per share as dividend. This amount is the highest ever distributed by the Company.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2005, the group "ALFA-BETA" operated 135 stores (101 retail sales points, 10 Cash-and-Carry stores, & 24 franchising stores) and employed 6,744 people. In 2005, Consolidated Turnover amounted to EUR 908.0 million and Consolidated Net Profit before tax to EUR 22.1 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.