Ermes Department Stores plc Approves Interim Dividend Payable on December 30, 2013; Announces Unaudited Consolidated Earnings Results for the Nine Months Ended September 30, 2013
The company announced unaudited consolidated earnings results for the nine months ended September 30, 2013. For the period, net sales were EUR 160,638,000 against EUR 178,752,000 a year ago. Net loss for the group after tax was EUR 7,000 against EUR 92,000 a year ago. Net loss allocated to share holders of the company was EUR 569,000 against EUR 505,000 reported last year. Basic and diluted earnings per share were 0.33 cents against 0.29 cents a year ago. Net book value per share was EUR 0.45 against EUR 0.45 for the year ended December 31, 2012. Turnover and the results of the Group for the nine months of 2013 have been affected by the consequences of all the actions and decisions taking place in the Cyprus economy since March 2013. Furthermore, turnover and results have also been affected by the decisions taken by the Group in its efforts to reorganize the services offered and the termination of the operating activities of Debenhams Avenue in Nicosia, one of the three Scandia stores in Nicosia and of the subsidiary company Domex Trading Co. Ltd.