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Thema: Neuer Golfplatz Limni Mines Polis?

  1. #1
    792 Beiträge seit 02/2006

    Neuer Golfplatz Limni Mines Polis?

    Lest selbst und bildet euch ein Urteil

    Woolworth (Cyprus) profits seen up


    SFS expects positive results from golf investment

    Woolworth (Cyprus) Properties Pcl (FWW) issued a positive profit warning indicating that the Group’s 2006 profitability will be significantly improved compared to the reported profitability in 2005, which amounted to EUR 3.9 mln.

    According to the announcement, the improved profitability is mainly driven by the increase in share of profits from associated companies and the additional revenue from the agreement between Carrefour supermarkets and the shopping malls “Shacolas Emporium Park” and “Agora Engomis”.

    In 9M06 the Company posted a net profit of CYP 2.8 mln yielding an EPS of 2.9 cent (EUR 0.05), while in 2005 FWW’s net profit amounted to CYP 2.3 mln (EUR3.9 mln).

    Management expects profitability in 2006 to exceed EUR 5.2 mln.

    In December 2006, FWW announced the acquisition of 100% of the issued share capital of N.K Shacolas (Merchants) Ltd. which is a full subsidiary of N.K Shacolas (Holdings) Ltd. N.K.

    Shacolas (Merchants) Ltd. owns 11.73% stake in Cyprus Limni Resorts & Golfcourses

    Plc. which owns property of around 2.8m square meters at Limni, Polis Chrisochous. According to the announcement, Cyprus Limni Resorts & Golfcourses will engage in the building and development of a golf course, a hotel, villas and apartments and other dwellings related to tourist development.

    FWW is interested in investing in the aforementioned plan since it already engages in related operations in the area of property development and also anticipates a significant return on the specific investment.

    Cyprus Limni Resorts & Golfcourses Plc. has already taken the preliminary actions for its listing on the Cyprus Stock Exchange (CSE). The acquisition cost is provisionally estimated at CYP10 mln or EUR17.4 mln while the final price will be set by a recognized Audit Firm in order to ensure that the transaction is executed at arm’s length. In the scope of this agreement, FWW will provide management and support services to Cyprus Limni Resorts & Golfcourses Plc. for an annual fee of CYP250k (EUR435k). According to FWW, this investment is estimated to generate over 12% annual return in the next 5-8 years while it will add value and diversification to the Company’s property portfolio.

    Analysts at Sharelink Securities & Financial Ltd., a member of SFS Group Pcl (SFS) provisionally estimate that FWW’s investment in Cyprus Limni Resorts & Golfcourses Plc. will result in a net contribution in the Group’s profitability in the range of CYP 0.7 mln-CYP 0.9 mln (EUR1.2 mln-EUR1.6 mln) from 2007 and onwards and a contribution in the range of EUR0.10-EUR0.20 to FWW stock on a per share basis.
    Dazu ein Auszug aus einem Beitrag aus Cyprus Living
    http://www.cyprusliving.org/phpbb/nfphp ... php?t=1006

    Re the golf course -

    I'd like to think they'd take the opportunity to remediate the old Limni mine workings - the spoil heaps should be relatively easy to landscape (obviously no solid rock to deal with), and the big pit could have its access notch closed so it could serve as a reservoir (assuming they can fill it with water!). However, to get this far they will already have had to convince the authorities they have a viable water self-sufficiency plan, so its either that or desalination (which can be expensive on power).

    I wonder if anyone else noticed: the old Cyprus Sulphur and Copper Co. Ltd. mine office by the roadside near the Limni jetty had its signboard changed some months back. ...

  2. Nach oben    #2
    Zypern-Insider Avatar von Marion
    1.095 Beiträge seit 04/2005
    Tja, womit wir wieder beim letztwöchigen Thema wären. Noch ein wasserintensiver Golfplatz mehr - ich sag da jetzt nichts mehr dazu .
    Cyprusliving lese ich auch gern; da weiß man immer, was vor Ort so läuft .

  3. Nach oben    #3
    792 Beiträge seit 02/2006
    Ich habe beim Lesen des Artikels auch nur gedacht: "Musste das sein? Sie lernen's nicht." ANsonsten fällt mir auch nichts mehr ein

    LG aus dem "wasserreichen" Westerwald

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