ΑΛΦΑ-ΒΗΤΑ ΒΑΣΙΛΟΠΟΥΛΟΣ A.E.
PRESS RELEASE
PRESS RELEASE ALFA-BETA VASSILOPOULOS S.A. SHAREHOLDERS' MEETING
The Annual Shareholders' Meeting of ALFA-BETA VASSILOPOULOS S.A. was convened on June 3rd, 2008 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 2007, a year of many successes. AB performance this year was outstanding in both sales and profits.
In 2007, AB continued the dynamic commercial policy of prior years, among others by extending its product assortment mainly by adding new private label products. Furthermore, it further reinforced the competitive pricing of its offering.
As regards its organic expansion, "ALFA-BETA" continued its development activity adding eleven new sales outlets to its store network, including five supermarkets and six affiliated stores. In parallel, four existing stores were remodeled 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 mentioned the recent acquisition of της Plus Hellas that reinforces the presence of Alfa-Beta, particularly in Northern Greece where it had a limited presence, as well as the acquisition of P.L.L.C., owning a land plot at Inofyta in Boeotia of 115,000 m2, on which a new modern storage and distribution center of fresh products will be constructed which will facilitate the logistic needs of AB.
Finally, Mr. Macheras presented the Company's development program. For 2008, AB plans to add 17 stores to its sales network, affiliated stores included. Moreover, the stores of Plus Hellas, which was recently acquired, will be remodeled and converted to the Alfa-Beta banner.
The Meeting approved the Annual Financial Statements of December 31, 2007 and the payment of 0.89 EUR per share as dividend, increased by 82% versus last year.
ALFA-BETA VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2007, the Group ALFA-BETA operated 159 stores (113 company operated food retail sales points, 10 cash-and-carry stores, & 36 affiliated stores) and employed 7,545 people. In 2007, Consolidated Turnover amounted to EUR 1,174.9 million and Consolidated Profit before tax to EUR 50.0 million. ALFA-BETA VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.
The Annual Shareholders' Meeting of ALFA-BETA VASSILOPOULOS S.A. was convened on June 3rd, 2008 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 2007, a year of many successes. AB performance this year was outstanding in both sales and profits.
In 2007, AB continued the dynamic commercial policy of prior years, among others by extending its product assortment mainly by adding new private label products. Furthermore, it further reinforced the competitive pricing of its offering.
As regards its organic expansion, "ALFA-BETA" continued its development activity adding eleven new sales outlets to its store network, including five supermarkets and six affiliated stores. In parallel, four existing stores were remodeled 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 mentioned the recent acquisition of της Plus Hellas that reinforces the presence of Alfa-Beta, particularly in Northern Greece where it had a limited presence, as well as the acquisition of P.L.L.C., owning a land plot at Inofyta in Boeotia of 115,000 m2, on which a new modern storage and distribution center of fresh products will be constructed which will facilitate the logistic needs of AB.
Finally, Mr. Macheras presented the Company's development program. For 2008, AB plans to add 17 stores to its sales network, affiliated stores included. Moreover, the stores of Plus Hellas, which was recently acquired, will be remodeled and converted to the Alfa-Beta banner.
The Meeting approved the Annual Financial Statements of December 31, 2007 and the payment of 0.89 EUR per share as dividend, increased by 82% versus last year.
ALFA-BETA VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2007, the Group ALFA-BETA operated 159 stores (113 company operated food retail sales points, 10 cash-and-carry stores, & 36 affiliated stores) and employed 7,545 people. In 2007, Consolidated Turnover amounted to EUR 1,174.9 million and Consolidated Profit before tax to EUR 50.0 million. ALFA-BETA VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.