The second quarter of 2011 Fourlis Group improved the financial performance in its retail activities, compared to the same period last year. Q2FY11 sales were € 90,3 million, 6,6% higher than the same period last year (€ 84,7 million) and EBITDA were € 8,2 million, 17,2% higher than Q2 of 2010 (€ 7,0 million).

Fourlis Group, during the first half of 2011, realized sales in its Continuing Operations of          € 192,1 million, compared to € 193,9 million the same period last year. Total Group sales, for the first six months of 2010 were € 316,8 million, including the sales of Samsung products in Greece and Romania, which were discontinued following the agreement with Samsung.

H1FY11 EBITDA was € 13,9 million (€ 19,5 million in H1FY10). Pre-opening expenses of new IKEA stores for the first half of 2011 were € 0,9 million (€ 1,2 million in 2010).

Consolidated Profit Before Taxes was € 3,6 million compared to € 10,3 million in the same period last year.

As a result, Net Profit, was € 1,7 million compared to € 2,3 million in H1FY10.

EPS were € 0,0341 (H1FY10: € 0,0447).

Home Furnishings division (IKEA) with € 135,7 million sales (2,4% lower than the same period last year), gained market share in a continuously declining market.  EBITDA was at € 11,9 million (H1FY10 € 15,3 million). Five IKEA stores operate today in Greece and one in Cyprus, while the biggest IKEA store of the Group is due to open in September in Sofia, Bulgaria.

 Retail Sporting Goods division (INTERSPORT), realized sales € 41,2 million increased by 8,9% versus  the same period last year. Sporting goods in Greece and Cyprus realized EBITDA € 2,6 million while the activity in the other countries realized negative EBITDA € 0,9 million including the pre-opening expenses of Turkey activity. Fourlis Group currently has 68 Intersport stores in the region (Greece (35), Romania (16), Turkey (11), Bulgaria (4) and Cyprus (2)) compared to 55 stores at the end of 2010. H1FY11 does not include sales from Turkey activity since they will be included effective 3^rd quarter of the current year.

Finally, the wholesale of electrical and electronics division, following the discontinuation of Samsung activity in Greece and Romania, realized sales of € 17,5 million and EBITDA € 0,6 million.