Following 9MFY08 financials release and although the running rates of Q3 and 9M results fully support the initial 2008 guidance for sales and profit, during October and November of the current year, we are seeing a softening of the running rates. Based on the assumption that this softening will sustain for the balance of the year, Fourlis Group announces the adjusted sales and profit guidance as follows:
Consolidated sales for the financial year 2008 are expected to reach euro 780 million (y-o-y increase 16% approximately, euro 815 mio initial estimation) and the Profits Before Taxes (PBT) are expected to reach euro 75 million for the same period (y-o-y increase 15% approximately, euro 85 mio initial estimation).
Finally Net Profit is expected to increase by 18% y-o-y to euro 55 million (euro 65 mio initial estimation).