A&P dividend yield at 7.8%

Andreou & Paraskevaides, the local bottlers of Pepsi and producers and distributors of juices and other products reported net profit of CYP 1.24 mln for 2005, slightly down from CYP 1.3 mln in 2004, but maintained the dividend at 0.67 cent per share.

Based on the current price of 0.085 on the CSE, the dividend yield amounts to 7.88%, one of the highest on the CSE. Andreou & Paraskevaides reported that turnover was up 1.1%, but gross profit was marginally lower at CYP 9.56 mln from CYP 9.98 mln in 2004.

Net profit amounted to CYP 1.244.000 from CYP 1.300.800 in 2004 with EPS at 0.68 vs. 0.71 in 2004.

The company also announced that Kyriakos Andreou, the Chairman of the Company decided not to seek payment of CYP 200.000 as compensation in lieu of services, despite the fact that this is included in his contract.