GREECE: Boutaris ups Kymi Emfialotiki holding
J. Boutaris & Son Holdings has increased its stake in mineral water producer Kymi Emfialotiki. The Greek wine and spirits producer said yesterday that it had acquired another 60,000 shares from N. Glykos.
After the transaction Boutaris owns 216,300 of a total of 300,000 Kymi shares, or 72.1% of the water company.
In the first quarter of 2004, Boutaris posted a consolidated pre-tax profit of €190,000 (US$236,600), compared to a loss of €170,000 (US$211,700) for the corresponding period of 2003. Consolidated sales rose by 25% year-on-year.
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