Cyprus’ Woolworth issues positive profit warning

Woolworth (Cyprus) Properties Plc (FWW.) issued a positive profit warning for its 1Q09 results, attributable to the disposal of its 20% stake in the associated company ‘CTC-ARI Airports Limited’ to ‘Ermes Department Stores Plc’ (ERME). In 1Q08 FWW posted a net profit figure of EUR 1.2 mln yielding an EPS of EUR 0.011.