KEO issues positive 2016 profit warning

Beverage producer KEO Plc said it generated “considerably” more profit last year compared to 2015.

“The expected improvement in earnings is due to a rise in profit from operations as a result of an increase in turnover and a drop in production cost,” the Limassol-based company said in a statement on the website of the Cyprus Stock Exchange on Friday.

In 2015, KEO generated a net loss of €1.7m, compared to a €2.6m net loss in 2014, after its turnover rose to €45.7m from €43.6m respectively.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.