During the 3rd quarter of 2003 and despite the worldwide negative economic impact, the Group of Hellenic Fabrics S.A. managed to sustain its profitability at satisfactory levels.

For the period ending at 30.9.2003, the turnover on a consolidated basis, amounted to 55,16 million Euro, while the profits before taxes reached the amount of 3,95 millions euros, noting a decrease of 12,24% and 20,93% respectively compared to fiscal year 2002.

Turnover and profits before taxes of the parent company reached the amount of 51,98 millions euros and 3,42 millions euros correspondingly. As in previous years, the majority of sales reaching 80%, were primarily destined to export markets, mainly to other European Union countries.

The company focuses on applying steadily its strategy, based on the use of its modern mechanical equipment and setting as objective the increase of production of products with high added value. During this period, Hellenic Fabrics S.A., has successfully realized a production investment plan that reached the amount of 10 million euros, while its' subsidiary "Kilkis Spinning Mills S.A. investment plan reached 2 million euros.

The management team of the Group appreciates that the increased sales of October, in combination with the observed upsurge of the denim market in last quarter, are leading to the suitable conditions for increase of demand, rise of prices and improvement of its profitability. -