Cyprus Mail

KEO issues positive 2016 profit warning

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Beverage producer KEO Plc said it generated “considerably” more profit last year compared to 2015.

“The expected improvement in earnings is due to a rise in profit from operations as a result of an increase in turnover and a drop in production cost,” the Limassol-based company said in a statement on the website of the Cyprus Stock Exchange on Friday.

In 2015, KEO generated a net loss of €1.7m, compared to a €2.6m net loss in 2014, after its turnover rose to €45.7m from €43.6m respectively.

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