Group Estimates Earning for the Fiscal Year 2000

The consolidated results of Sarantis Group in 1999 surpassed even the most optimistic estimations, presenting a turnover increased by 24%, while the profits before tax increased by 107%.

More specifically, the Group’s net sales in 1999 reached 43 billion Drs. compared to 34,6 billion Drs. in 1998, while profits after the minority rights will reach 5.9 billion Drs. as opposed to 2,8 billion Drs. in 1998.

The main reasons for this positive course in 1999 were the excellent sales performance in Greece (especially those of the last quarter), the rapid expansion of the Group’s activities in the Eastern Europe and the opening of the European markets.

Also in 1999, the Group made three selective takeovers of very dynamic companies in the consumer goods sector, which are expected to contribute significantly to the development of the Group in 2000.

The objective of Sarantis for the next year is to achieve a turnover of 52 billion Drs. while the consolidated profits before tax are expected to reach 7.0 billion Drs.