Positive profit warnings by CTC, FWW, ERMES & MAI

Cyprus Trading Corporation Pcl (CTC) issued a positive profit warning for its 9M07 results on the back of increased turnover and higher share of profits from associate companies. Ermes Department Stores Plc (ERME) also issued a positive profit warning for its 9M07 results attributed to higher sales and gross profit margin improvement.

CTC posted a net profit after minorities of EUR 7.94 mln, yielding an EPS of EUR 0.0622 a year ago in the same period.

Woolworth Cyprus Properties (FWW) issued a positive profit warning for its 9M07 results attributed to the increase from revaluation of its investments. A year ago in 9M06 FWW posted a net profit of EUR 4.81 mln yielding an EPS of EUR 0.05.

The Board of Muskita Aluminium (MAI) will convene on 28 November 2007 to examine its 9M07 results. The Company also issued a positive profit warning for its 9M07 results on the back of increased revenues and lower unit production costs. A year ago in 9M06 MAI posted a net profit figure of EUR 6.9 mln.