Options issues negative profit warning

Options Cassoulides Plc (OPT) issued a negative profit warning indicating that its first half 2007 results will be materially lower compared to the net profit of EUR1.5 mln reported in the same period in 2006.

The deterioration is mainly attributed to the low profitability contribution of the conference management division in the period, and the higher operating and finance costs of the printing division.

Analysts at Sharelink Securities & Financial Services however, maintained their profit after tax projection for 2007 at EUR2.7 mln. It should be noted that OPT’s results reflect the fact that all divisions of OPT exhibit some seasonality in their operations. “Our price target on the stock is also currently maintained at EUR0.61/share,” noted Sharelink Research.

OPT was last trading at EUR 0.71 per share on the CSE.