Astarti records profit increase

Astarti Development Pcl (AST) reported its preliminary FY04/05 results for the period ended 31 October 2005. Turnover increased by 2.0% YoY to CYP 1.69 mln in FY04/05, while EBIT remained unchanged compared to FY04/05 at CYP 1.56 mln. Net profit increased by 157%

YoY to CYP 2.64 mln, mainly due to a positive revaluation in the fair value of investments amounting to CYP 1.73 mln. EPS was recorded at 13.24 cent per share compared to 5.15 cent per share in FY03/04.

The Company already paid out to its shareholders a dividend of 2 cent per share for the current year.