Orphanides issues negative profit warning

Orphanides Public Company Limited announced that the financial results for 2005 are expected to be lower compared to the corresponding results of 2004. The drop is attributable to: The increase in the staff¹fs payroll cost due to the better staffing of the Company¹fs Head office and the staffing of the new supermarkets. The increase in electricity expenses. The increase in the promotion and advertising cost. During 2004, Orphanides had reported net profit of CYP 3.12 mln.