Orphanides imports to exceed CYP 11 mln by 2007

Orphanides Pcl (ORF), the largest retailing stock listed on the CSE aims to raise own imports to CYP 11 mln by end 2007 from the current CYP 9 mln level, according to ORF Chairman Christos Orphanides.

Speaking at a press conference in Nicosia, Orphanides said for this purpose the group has purchased warehouse space of 3.000 sq. metres in Alambra to facilitate the shift to own imports in an attempt to boost margins in order to fight off competitive that it is likely to heat up at Carrefour and Lidl expand operations.

ORF has 11 retail outlets across Cyprus and is currently on course to boost the number of its outlets by a further 10 ranging in size between 1.000-2.500 sq. metres, said Orphanides.