Financial results for the year 2002

ASTIR PALACE VOULIAGMENI S.A. ASTIR PALACE VOULIAGMENI S.A. announced financial results for the year 2002. Despite the international unfavorable economic environment, the financial results of the company continued the positive trend with turnover increasing by 7,5% year on year reaching euro 27.2 million in 2002 compared to euro 25.3 million in 2001.The total cost of goods sold and operating expenses increased by 2.1% y-o-y and reached euro 19.3 million compared to euro 18.9 million in 2001.Operating profit increased significantly by 19.7% and reached euro 8.606 thousand versus euro 7.190 thousand in 2001.Pre tax profit, for 2002 reached euro 7.340 thousand versus euro 7.008 thousand during the same period last year, showing an increase of 4,7% y-o-y, despite the decrease in financial expenses and the increase in depreciation expenses. The Board of Directors have decided to propose at the Annual General Meeting a dividend per share of euro 0,10 this means a total dividend of euro 3.550.000 or 79.2% of total after tax profit of the company

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