SPRIDER STORES S.A
Press release
On Tuesday, June 17, 2008, SPRIDER STORES S.A. Annual Ordinary General Shareholders Meeting took place at the Company's business headquarters in Anthousa Attica.
Among other issues included in the daily agenda, the shareholders approved the distribution of euro 0.089 dividend per share, substantially increased by 122.5% from last year's euro 0.04 dividend per share. Ex dividend date is set to be Tuesday, July 1st, 2008 (all shareholders at the end of the Athens Exchange trading session on Monday, June 30, 2008 will be eligible for the 2007 dividend) while the payment of the dividend will commence on Wednesday, July 9, 2008.
During the proceedings of the Shareholders Meeting, Mr. Charalambos Xylouris, group CEO, addressed the most significant corporate issues of FY 2007. The Group sales network was strengthened with the addition of 21 new points of sales. The Group penetrated two new geographical markets, Romania and Cyprus. The biggest store of the Group in Piraeus was refurbished, with the total selling surface reaching 4.000 square meters. In addition to that another two existing stores were renovated. Following the Group's strategy for focus in retail, the co-operation with Le Coq Sportif was ceased and the subsidiary firm Megathlon Hellas S.A., which was distributing the above products, was liquidated. Moreover, the EXPO Athens building was sold, as well as part of the complex that the Group was constructing in Sofia Bulgaria.
Finally, the modernized Group warehouse was set to operation, being able to service up to 180 stores, safeguarding the Group's expansion plans for the four coming years.
Concerning financial results, Mr. Xylouris expressed his satisfaction and mentioned that sales increased by 35.6% to euro 128.103 thousands over euro 94.471 thousands in 2006. EBITDA, not including a non recurrent pre tax gain of euro 15.841 thousands rose by 26.7% to euro 24.539 thousands over euro 19.362 thousands in 2006 and finally EATAM marked a remarkable growth by 69.1% amounting euro 14.125 thousands over euro 8.352 thousands last year.
As regards FY 2008, Mr. Xylouris highlighted that the Group plans to establish at least 20 new points of sales. Consolidated sales are expected to reach euro 165,000 thousands, Group EBITDA is estimated to form at euro 35,600 thousands while consolidated earnings after tax and minorities (EATAM) will surge at thousands 18,600 thousands.
Among other issues included in the daily agenda, the shareholders approved the distribution of euro 0.089 dividend per share, substantially increased by 122.5% from last year's euro 0.04 dividend per share. Ex dividend date is set to be Tuesday, July 1st, 2008 (all shareholders at the end of the Athens Exchange trading session on Monday, June 30, 2008 will be eligible for the 2007 dividend) while the payment of the dividend will commence on Wednesday, July 9, 2008.
During the proceedings of the Shareholders Meeting, Mr. Charalambos Xylouris, group CEO, addressed the most significant corporate issues of FY 2007. The Group sales network was strengthened with the addition of 21 new points of sales. The Group penetrated two new geographical markets, Romania and Cyprus. The biggest store of the Group in Piraeus was refurbished, with the total selling surface reaching 4.000 square meters. In addition to that another two existing stores were renovated. Following the Group's strategy for focus in retail, the co-operation with Le Coq Sportif was ceased and the subsidiary firm Megathlon Hellas S.A., which was distributing the above products, was liquidated. Moreover, the EXPO Athens building was sold, as well as part of the complex that the Group was constructing in Sofia Bulgaria.
Finally, the modernized Group warehouse was set to operation, being able to service up to 180 stores, safeguarding the Group's expansion plans for the four coming years.
Concerning financial results, Mr. Xylouris expressed his satisfaction and mentioned that sales increased by 35.6% to euro 128.103 thousands over euro 94.471 thousands in 2006. EBITDA, not including a non recurrent pre tax gain of euro 15.841 thousands rose by 26.7% to euro 24.539 thousands over euro 19.362 thousands in 2006 and finally EATAM marked a remarkable growth by 69.1% amounting euro 14.125 thousands over euro 8.352 thousands last year.
As regards FY 2008, Mr. Xylouris highlighted that the Group plans to establish at least 20 new points of sales. Consolidated sales are expected to reach euro 165,000 thousands, Group EBITDA is estimated to form at euro 35,600 thousands while consolidated earnings after tax and minorities (EATAM) will surge at thousands 18,600 thousands.