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ΚΕΟ turnover and profits up in 2022

Local beverage company KEO’s turnover increased by 23.1% in 2022, increasing its profit to €6.89m from €5.85m the year before.

Announcing its 2022 annual financial results, KEO said that despite heavy competition, it also managed to increase its operational profit by 42.8% year-on-year, to €5.8m.

Its increased turnover was attributed to increased sales volumes, resulting in part from the lifting of the restrictive measures that were imposed – mostly in 2020 but also in 2021 – to curb the Covid-19 pandemic. It was also due to an increase in the company’s market share.

With regard to dividends, on 25 January 2022, the company's Board of Directors decided to pay an interim dividend for the year 2021, totalling €1,476,000, corresponding to €0.035 for each fully paid ordinary share. On 31 December 2022, the company's Board of Directors decided to pay interim dividends for the year totalling €1,266,000, corresponding to €0.030 for each fully paid ordinary share.

The profit per share for 2022 was calculated based on the net profit of the Group’s shareholders which amounted to €6,890,000 (profit of €5,138,000 in 2021) and the weighted average number of issued shares of the Company on 31 December 2022, which was 42,181. 923 (42,181,923 shares in 2021).

The Group said that the financial results showed that its finances are at satisfactory levels.

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