Group CON. CARDASSILARIS & SONS S.A. - CARDICO released its Q1 2006 financial results according to the International Financial Reporting Standards. To begin with, please note that Group results, both on the level of sales and of profitability, were negatively affected by the sudden and unexpected downright fall marked within the first months of 2006 in the price of Almond kernel internationally, which is one of the main products of CARDICO's production activities. More specifically, consolidated sales for the first quarter of 2006 amounted to Euro 46.1 mil. over Euro 51.7 mil. in the respective period last year, marking a decrease of 10.9%. Respectively, gross profit stood at Euro 2.5 mil. over Euro 8.2 mil. in the first quarter of 2005, while the EBITDA for the first quarter 2006 amounted to Euro 337 th. over Euro 6.7 mil. in the respective period last year. Finally, results after tax and minorities marked losses of Euro 331 th., out of which Euro 343 th. concerned deferred taxes, over profit of Euro 3.5 mil. in the first quarter of 2005. According to the abovementioned figures and the financial conditions expected in the international markets of raw materials, namely that of the Almond kernel, the Management of CARDICO deems that the goals set and announced for the year 2006 regarding the increase in turnover and profitability will be achieved, despite the coincidental decrease in Group's financial figures for the first quarter of the year. More specifically, for the year 2006 estimates are that total consolidated sales will amount to Euro 269.7 mil. marking an increase of 14.9%, while respectively, earnings after tax and minorities are expected to stand at Euro 12.2 mil., up by 62.8%. The Management's choice to execute its procurement contracts despite the sudden fall in prices, has consolidated its reliability and status in the international markets, while thanks to the stabilisation and positive course already observed in prices internationally, group sales and profits are starting to bounce back and together with the recent collaboration agreement (five-year contract) made with the large METRO retail store chain in 22 European countries, they assure the achievement of the goals set by the Group for the year.