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Cyprus beverage company Keo announced this week that it generated 1.6 million euros in the first half of 2022, up from 1.1 million euros in the same period in 2021.
According to the company's financial results, the entire Keo Group's turnover in the first half of 2022 was 27.4 million euros, compared with 20.1 million euros in the same period in 2021, an increase of 36.3%. The increase in turnover of
is mainly attributed to improved market conditions, and the leisure and entertainment sectors have been driven by the increase in visitor numbers as multiple restrictions have curbed the tourism industry compared to last year. Still in place.
Group's gross profit in the first half of 2022 was 8.5 million euros, compared with 6.5 million euros in the same period in 2021.
22 gross profit margin as a percentage of sales was 31%, compared with 33% in the same period in 2021.
The group said the decline in gross profit margin was due to a substantial increase in production and operational costs, noting that the company chose to absorb most of the growth by avoiding the price increase faced by consumers.
In the first half of 2022, the group's operating profit was 1.2 million euros, compared with 334,000 euros in the same period in 2021.
Compared with the same period in 2021, the improvement in the group's operating profit is mainly due to the increase in turnover.
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