Cyprus Business Now

Space Hellas, a technology solutions company operating in the fields of information technology, telecommunications and security, saw a consolidated turnover of €62.4 million during the first three quarters of 2021, reflecting a year-on-year increase of €14.5 million.

Moreover, the company’s consolidated turnover for the third quarter of 2021 amounted to €26.2 million, a year-on-year increase of €11.4 million.

In addition, the consolidated EBITDA during the first three quarters of 2021 closed at €6.1 million, reflecting a year-on-year increase of €2.6 million.

“The most important reference point was the acquisition of an additional 10 per cent stake in the Singular Logic, making Space Hellas a major shareholder with a 60 per cent stake, handing over the management of the company to Space Hellas,” the company said in a statement.

“This event completed the investment plan that followed the acquisition of Singular Logic, which took place in the first half of this year,” the company added.

Limassol port management company DP World Limassol, in collaboration with P&O Maritime, held a shave down event at the company’s premises to mark Movember Cyprus and Men’s Health Awareness Month.

Movember Cyprus aims to raise awareness as well as encourage men all over the island to get tested and seek mental health support.

“Through this event, we are hoping to encourage our male employees and the male population as a whole, to stop neglecting their health and go get tested,” DP World Limassol CEO Nawaf Abdulla said.

“We are very pleased to be able to support Movember Cyprus, a campaign that does not only aim to raise awareness about testicular and prostate cancer, but also convey that prevention and early intervention is essential,” Abdulla added.

According to data released by the Cyprus Statistical Service (Cystat), the Industrial Production Index dropped by 1.3 per year-on-year in September, reaching 135.2 units.

Regarding the period between January and September of this year, the index increased by 0.2 per cent year-on-year.

The service noted that increases were recorded in water supply and materials recovery (+31.7 per cent), as well as mining and quarrying (+7.0 per cent). Conversely, the electricity supply sector saw a decrease of 10.5 per cent.

In terms of the manufacturing sector, the most significant positive year-on-year changes took place in the manufacturing of electronic, optical products and electrical equipment (+34.5 per cent), furniture, other manufacturing and the repair or installation of machinery and equipment (+7.4 per cent), as well as food products, beverages and tobacco products (+7.3 per cent).

The Cyprus Stock Exchange (CSE) ended Tuesday, November 30 with profits.

The main Cyprus Stock Market Index was at 67.22 points by the end of trading, reflecting a rise of 1.22 per cent over the previous day.

The FTSE / CySE 20 Index was at 40.22 points, representing an increase of 1.22 per cent.

The total value of transactions came up to €104,421.

In terms of sub-indexes, the investment firm, main and alternative indexes rose by 2.96 per cent, 1.44 per cent and 0.87 per cent respectively. The hotel index fell by 0.88 per cent.

The biggest investment interest was attracted by Vassiliko Cement Works (+0.78 per cent), Demetra (+3.28 per cent), Pandora (+2.14 per cent), Bank of Cyprus (+0.94 per cent), and Hellenic Bank (-0.49 per cent).