Chris Joannou profits decline

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Chris Joannou (CJ) saw its net profits decline by 31% year-on-year to CYP 70.431 in 2004 from CYP 101.654 in 2003, despite an increase in total sales to CYP 4.86 mln from CYP 4.65 mln a year ago.

Earnings per share, based on the preliminary 2004 results amounted to 0.69 cent from 1.01 cent in 2003. Chris Joannou announced that it will not propose the payment of a dividend.