CTC profits surge higher

Cyprus Trading Corporation Plc (CTC.CY) reported a highly satisfactory increase in first half profit to EUR 14.4 mln compared to a net profit figure of EUR 2.1 mln reported a year ago in 1H07. EPS was reported at EUR 0.156. The improvement in the Company’s net profit is attributed to a fixed assets revaluation surplus amounting to EUR 27.9 mln. Revenue increased by 17.7% YoY to EUR 225.7 mln, whilst gross profit was reported 13.8% YoY higher.