BOC lifts profits to CYP 38 mln

Bank of Cyprus (BOC) announced a significant turnaround in its 2004 results, lifting net profits to CYP 37.5 mln compared to CYP 28.8 mln losses in 2003. Core profits (before provisions for

Cytrustees back into profits

Cytrustees Investments (CYT) managed to overturn the 2003 losses and report profits for 2004 despite the 10% decline in local equity prices during the year. Cytrustees reported net profits of CYP 240.000

Tourism woes hurt Lordos Hotels

A sharp decline in the occupancy of the Golden Bay Hotel in Larnaca forced Lordos Hotels Holdings (LHH) to report a massive loss for 2004, as total turnover fell by CYP 1.3

Leptos losses surge in 2004

Leptos Calypso Hotels (LCH) saw its losses surge to CYP 2.5 mln in 2004 from CYP 979.000 in 2003, mostly due to the operation of its new luxurious Thalassa hotel in Paphos.

Pandora profits dive on revaluation losses

Pandora Investments (PND) the property development company reported a sharp reduction in profits during 2004 on the back of higher revaluation losses on its equity investments. After reporting a 28% increase in

Deposit bank reserves slipped in November

The latest International Financial Statistics publication from the International Monetary Fund show that total reserves held by deposit money banks slipped to CYP 1,147.9 mln in November 2004, from CYP1,279.8 mln in

CSE rebounds ahead of BOC results

Equity prices on the Cyprus Stock Exchange (CSE) staged a moderate rebound on Thursday, closing 1.33% higher ahead of the announcement of results from Bank of Cyprus. The shares of Bank of