Ermes clinches British Bases supply contract

…annual sales of EUR 25 mln expected

 

Ermes Department Stores Public Ltd., a member company of the Shacolas Group, announced that it has concluded a final agreement with Sodexho Defence Services Ltd, U.K., for the exclusive management of the operations and supplies of all supermarkets and retail convenience shops operating in the British Bases at Akrotiri, Episkopi, Ayios Nikolaos, Dekhelia and Nicosia.

Sodexho were awarded the contract under Project Gibson for the provision of cleaning, catering, hospitality and other support services last week.

The contract between Sodexho and Ermes is for a five year period commencing on the 1st of September 2007, with a prospect of renewal for a further period two years. The annual Sales over the period of the contract is expected to exceed CYP CYP15 mln or EUR25 mln. 

This is a positive development for Ermes Department Stores Public Ltd. It is expected that this new commercial activity will contribute towards increasing the turnover of the Company and in bringing increased satisfactory results, by offering to the British Bases and its consumers, the best of what the Company can provide in goods and services.