The Annual Shareholders' Meeting of "ALFA-BETA" VASSILOPOULOS S.A. was convened on June 7th, 2007 in the presence of Μr. Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, as well as other Chief Officers of the parent company.
The Managing Director Mr. Macheras presented to shareholders the evolution of financial figures of the Company for the fiscal year 2006. It has been a year in which the Company's values and elements of strength and distinction in the Greek food retail sector have yielded a high rate of return. The Company's efforts and long-term investment in values such as quality, assortment, service, competitive prices, strict respect to rules of hygiene, innovative merchandising and consistent commercial policy, have yielded their fruits and are reflected in our best than ever financial results.
Continuing the dynamic commercial policy of prior years, AB extended its product assortment, mainly by adding new private label products. Furthermore, it reinforced its value-for-money concept by adjusting the prices in 700 basic products, in addition to similar pricing adjustments in 4,300 products already implemented during 2005 & 2004.
As regards its organic expansion, AB continued its development plans with the opening of thirteen new sales outlets of which 7 are company-operated and 6 affiliated ones while 6 existing stores have been refurbished and upgraded.
Apart from the strengthening of competitiveness and the organic expansion, emphasis was given on methods and procedures that improve Company's efficiency.
Mr. Macheras expressed his conviction that Management's and employees' dedication to Company's values is reflected not only on improved results but also on the performance of the AB share price. The latter's value has increased by 49.36% since the beginning of the year.
Finally, Mr. Macheras presented the Company's development program. For 2007, AB plans to add 19 stores to its sales network, affiliated stores included, extending it to 167 sales points.
The Meeting approved the Annual Financial Statements of December 31, 2006 and the payment of 0.49 EUR per share as dividend, increased by 58.06% versus last year.