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Fourlis Q1 Net At EUR 5,63 Mil.

Fourlis Group announced Tuesday that during the first quarter of 2010 it increased its sales in all of its business activities compared to the first quarter of 2009. Group Sales were EUR162,86 million in Q1FY10 compared to EUR 152,95 million in Q1FY09.

Q1FY10 EBITDA were EUR 11,52 million (EUR 13,51 million in the first quarter of 2009).

Consolidated Profit Before Taxes was EUR 7,78 million compared to EUR 7,60 million in the first quarter of 2009.

As a result, Net Profit was EUR 5,63 million compared to EUR 4,89 million in the first quarter of 2009 and EPS were EUR 0,111 (Q1FY09: EUR 0,096).

Retail Home Furnishings division (IKEA), realized increased sales of 4,4% yo-y to EUR 72,33 million (Q1FY09 EUR 69,26 million) and EUR 6,59 million Profit Before Taxes (Q1FY09 EUR 8,81 million). Today the company operates 4 IKEA stores in Greece and one in Cyprus. The second provincial store in the area of Ioannina is under construction, while the company starts construction of the IKEA store in Sofia, Bulgaria. The target remains for Ioannina store to open in 2010 and for Sofia store in 2011.

Retail Sporting Goods division (INTERSPORT), realized increased sales of 10,7% y-o-y to EUR 19,81 million, while Profit Before Taxes at EUR 87,2 thousand (Q1FY09 EUR 146,9 thousand). Today there are 52 Intersport stores in Greece (32), Romania (15), Bulgaria (3) and Cyprus (2) compared to 48 stores at the end of 2009.

Finally the wholesale of electrical and electronics division, realized a 7,5%  y-o-y increase in sales to EUR 70,73 million and EUR 1,30 million Profit before Taxes compared to losses of EUR 1,59 million for the same period in 2009 which were attributed to Romania activity.
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