Elmec Sport declares reply to Athens Exchange SA

04 Jul '06

2 min read

Referring to the letter, dated at 28/6/2006, of the Athens Exchange SA, Elmec Sport SA announces that the announcements in the Press after the Annual General Meeting that took place on the 23rd of June 2006, reflect correctly the issues mentioned during the Meeting.

Specifically, the Managing Director mentioned that the consolidated sales for the Group of Companies is expected to reach 180 million euro during the fiscal year 2006, and the consolidated earnings before taxes are expected to reach 11 million euro. The Managing Director avoided to estimate the earnings after taxes due to the technicalities involved.

As far as “attica, the department store” is concerned, it was announced that the sales of the department store during the first two months of the second year of operations (April – May 2006) grew by 27 percent compared to the respective period of the previous year.

It was announced that the earnings before taxes for the discount store currently in operation “Factory Outlet” situated in N. Faliro are estimated to reach 4 million euro for the fiscal year 2006.

Lastly, for the new “Factory Outlet”, currently constructed at the Commercial Park of the International Airport of Athens, it was announced that it is estimated to commence its operations during the coming Fall, and the total sales expected to be realized from the stores that will operate within the premises of the Department Store during the first 12 months of operations will fall within the range of 30 to 40 million euro.

The Fais family founded Elmec Sport S.A. in 1981, in order to undertake the distribution of NIKE, which was represented in Greece by another company of the group, Elmec Ino Fais S.A.

The course of Elmec Sport, through the years was remarkable, while NIKE became and still is, the leading company in the sector of sports apparel and shoes.

Elmec Sport S.A.

More ELMEC SPORT S.A. News... More Apparel/Garments News - Greece...