Aspis Holdings forecasts EUR 22 mln 2007E profit

Aspis Holdings Public Co. Ltd has issued a massive positive revision to its forecasted profits for 2007. The company announced that first half profits for period ended June 2007 are expected to exceed EUR 10 mln.

The improvement is due to a significant increase in business activity at all subsidiaries of the Aspis Group, including the newly acquired ones. Profits were also up because of favourable conditions in stock markets, which helped boost profits from investments.

As a result of the significant improvement in business conditions, Aspis Holdings has proceeded with a major profit revision and now expects that full year profits for 2007 will reach EUR 22 mln, more than the EUR 8 mln forecasted initially.

The company also announced that its Board of Directors will meet on August 6, 2007 to discuss the first half audited results.