Muskita Aluminium Cyprus profits dive 26.7% in 2008

Muskita Aluminium Industries (MAI) released its preliminary 2008 results with net profit declining 26.7% year-on-year to EUR 7.8 mln from EUR 10.68 mln in 2007 primarily because of the accelerated goodwill write off of the Company’s subsidiary ‘Universal Components’ amounting to EUR 2.99 mln. EPS was reported at 9.5 euro cents.
MAI’s sales fell by 1.4% yoy to EUR 63.8 mln in 2008 from EUR 64.7 mln in 2007 mainly due to lower European export sales, whilst EBIT was recorded 1.3% lower at EUR 12.2 mln.
The Board of Directors issued a dismal forecast for 2009, predicting that profitability will be lower than the 2008 performance.

Financial Mirror, February 19, 2009

Show more
Show less

Tags: Accountant in Cyprus, Accountants in Cyprus, Accounting association in Cyprus, Accounting Consultation, Accounting firms in Cyprus, Accounting offices in Cyprus, Accounting services in Cyprus, audit firms in Cyprus, Auditors in Cyprus, Budgeting and Forecasting in Cyprus, Business advisors in Cyprus, Business in Cyprus, Business Risk Analysis, Consultancy in corporate investment, Cyprus Accountant, Cyprus Accountants, Cyprus Accounting firms, Cyprus Accounting offices, Cyprus Assurance & Advisory, Cyprus audit firms, Cyprus Audits, Cyprus banking services, Cyprus Bookkeeping, Cyprus Business Consultancy, Cyprus business consultants, Cyprus chartered accountants, Cyprus consultants, Cyprus Corporate Finance, Cyprus corporate services, Cyprus corporate services providers, Cyprus Corporate Tax Services, Cyprus corporation tax, Cyprus Financial Advice, Cyprus Financial Consultancy, Cyprus financial planning, Cyprus financial services, Cyprus Human Capital, Cyprus International Business, Cyprus Investment & Wealth Managing, Cyprus IT Services, Cyprus Management Consultancy, Cyprus tax, Cyprus Tax Consultants, Cyprus tax information, Cyprus Tax Planning, Cyprus Value Added Tax (VAT), Cyprus Value Added Tax Services, Cyprus wealth management, Fund services in Cyprus, International tax planning, Investment in Cyprus, Off Shore Cyprus (Services), Performance and assets monitoring, Registration of Cyprus Companies, Registration of Offshore Companies, Special Purpose Audits, Starting a business, Tax Benefits Cyprus, Tax planning in Cyprus, Trustee and fiduciary services

FIND A LAW FIRM

Popular Practices

© Accountants in Cyprus. All Rights Reserved.
Accountants In Cyprus | Accounting Portal - LogoAccountants In Cyprus | Accounting Portal - Logo