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Denim fabrics maker Hellenic Fabrics H1 sales grow

16 Sep '05

3 min read

The group's positive cash flow of € 12.79 mln improved its liquidity and was used to self finance the investments by € 2.79 mln and to reduce total borrowing by € 10.00 mln approximately. Total equity reached € 84.68 mln as compared to € 82.69 mln on 31/12/2004.

Investments for the fiscal year 2005 are scheduled to reach € 11.00 mln, mainly in machinery and infrastructure for the development of new products, one third of which has been completed by the first half of the year.

Concerning the new ginning season that will start by the end of the month, and the operation of the group's two ginning plants, the management is optimistic that the perspectives are favorable. The current international cotton prices are at last year's levels, while Greek production is progressing very satisfactorily.

Under the present circumstances, the prospects for the remaining year remain positive and will outperform the initial forecasts.

Greece based indigo denim fabric maker Hellenic Fabrics produces a wide variety of denim fabrics, differing mainly in technical characteristics such as weight, yarn type, colour, texture etc. The Company during the last years also expanded in the production of fabrics with other fibres (natural and synthetic) besides cotton.

Hellenic Fabrics S.A.

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