Hellenic Fabrics's S.A. 2002 financial figures continued to have an upward trend even in the last quarter of the year, exceeding the provisions of the company's management. More specifically, the profit before taxes reached euro 6,42 million against euro 5,34 million in 2001, i.e. an increase of 20,2%. This led to an improvement of the net profit margin from 6,6% last year to 8,2%, besides the increased depreciation by euro 1 million. This also resulted in an improvement of the P/E ratio to 5,7, based on the closing price of 19.02.2003. The company's Board of Directors intends to propose to the General Meeting of company's shareholders the distribution of an increased dividend against that of 2001. In spite of the fact that the company's turnover reached euro 78,5 million, showing a slight decrease by of 3,7% against last year, mainly due to the decreased price of raw materials, the operating profit increased by 36,6%. As traditionally, the biggest part of company's sales, reaching 80% is exported, mainly to the other European Union countries. The company's own capital, amounted to euro 70,7 on 31.12.2001 and the equity debt ratio amounted to 2,2 against 2 in 2001. Investments in fixed assets reached ? 5 million and represent the first part of a 3 year investment program, amounting to euro 30 million. For 2003, despite the international conjuncture, a restrained optimism persists, supported by the fact that the company has already covered its annual raw material needs in a cost effective way, through its two cotton ginning mills.