Greek baker Karamolengos has reported consolidated pre-tax profits of €734,000 (US$635,000) for 2001, according to a preliminary estimate.
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This is a drop from 2000’s profit of €1.6m, attributed to higher advertising costs and increased payments. Consolidated sales for 2001 are meanwhile estimated at €21.4m, up 16.4% year-on-year.
Parent company Karamolengos is meanwhile expecting a pre-tax profit of €725,000 for 2001, down from €1.4m year on year. Turnover however increased by 14.2% year on year to €16.1m.
