Sports Club Gloria
Romania
Turnover of Kleemann in the nine month period of fiscal year 2004 also increased significantly at consolidated base, reaching 54,50 million Euros against 46,83 million Euros in 2003, reflecting an increase of 16,4%.
Earnings before taxes after minority rights at group level moved also upwards in the period in question and amounted to 7,19 million Euros against 5,13 million Euros of the nine month period of fiscal year 2003, improving by 40,1%.
The growth both of the company and the group shown in the nine month period of the current fiscal year is attributed by the management to the improvement of the productivity of the parent company, the performance of its subsidiaries within and outside Greece, the very positive acceptance of the new products of the company by the Greek market and the successful development of the group in new markets abroad.
According to the financial progress of the group in the nine month period of 2004, Kleemann management estimates that its initial estimations for year 2004 as a whole, reporting consolidated sales of an amount of 72,50 million Euros (an increase of approximately 11% against 2003), and 8,30 million Euros net profits before taxes (an increase of 3%) will be exceeded.
