NIKAS Group of companies released its FY 2006 financial results according to the International Financial Reporting Standards (I.F.R.S.).
NIKAS organic growth for the year 2006 amounted to 5%, excluding the sales of the feta production unit PLATAION S.A. which was sold in April 2006. This growth is mainly attributed to the increased sales of cold cuts and pizza products.
Consolidated turnover stood at Euro 107.0 mil. over Euro 105.6 mil. in 2005.
EBITDA in 2006 reached Euro 7.8 mil. over Euro 16.2 mil. in 2005. This decrease is mainly attributed to the increase of raw material prices, increase of selling expenses for promotion purposes mainly within the fourth quarter of 2006 and to the losses that derived from the disposal of the cheese production companies.
Earnings after tax and minorities (EAT) amounted to losses of Euro 511 th. over gains Euro 8,095 th. in 2005.
Note: The FY 2006 Financial Statements are available on the company''s website www.nikas.gr and will be published οn the daily financial press on March 31, 2007.