Cyprus Trading Corp 9-month profits rise to €8.6 mln

Retail group Cyprus Trading Corporation said nine-month net profit rose a sixth to 8.6 mln euros ($11.2 mln), helped by lower distribution costs.
CTC, which imports goods ranging from face creams to fork lifts, said turnover fell 2%.
The group said it expected full-year profitability to be satisfactory despite a subdued outlook in the retail sector.
CTC has stakes in the consortium running Cyprus's two international airports, and is the holding company of local Debenhams operator Ermes in which the British retail giant has a 10% stake.