Orphanides in new supermarket openings

Orphanides Pcl (ORF.CY) is planning to proceed with new supermarket openings to increase its reach in the market and remain the largest chain in Cyprus. Chairman and founder of the company, Christos Orphanides told shareholders during the Annual General Meeting that the Group is waiting for the go ahead from the Department of Town Planning and Housing, so as to proceed with the construction of a new supermarket in Skarinou area. The supermarket will have a total space of 1,600 m2 with 300 parking spaces.
By 26 June 2008, a new supermarket will operate in Yermasoyia area (Limassol) – no. 19. On 26 July 2008, a new supermarket (accommodate 11 stores), with a total space of 5,000 m2 will operate in the Paphos Mall – no. 20;
The Company’s new warehouse is expected to operate prior to the end of the current year. The operation of the new warehouse will eliminate the usage of ORF’s existing warehouses (one in each supermarket), allowing for better stock management and lower costs.