Options Cassoulides reports higher profit on flat sales

Options Cassoulides Pcl (OPT)  reported a satisfactory 9.6% YoY increase in net profit during 2006 to CYP 1.37 mln or EUR 2.37 mln compared to a net profit of CYP 1.25 mln or EUR 2.16 mln in 2005, despite a near flat revenue figures.

EPS was recorded at CYP 0.03 (EUR0.051), compared to CYP 0.027 (EUR 0.047) in 2005.

Group revenue remained practically unchanged at CYP 19.1 mln or EUR 33 mln. Gross profit increased to CYP 6.11 mln (EUR 10.57 mln), up by 5.2% yielding a gross margin of 31.9% (vs 30.4% in 2005). On the other hand, operating expenses also increased by 5.1% YoY to CYP 4.5 mln leading to a practically unchanged YoY EBIT of CYP 1.77 mln.

The Company’s BoD proposed a dividend of CYP 0.017 (EUR 0.0293).