Mitsides Public Company Ltd. provided earnings guidance for the six months ended June 30, 2012. The company expects results for the period from January 1 to June 30, 2012 will be significantly lower than those of 2011. This is mostly attributable to the drop in the margin of profit in the flour department and the exchange loss due to the decline of the Serbian dinar against the euro since Mitsides Point AD has loans in euros.

The drop in the margin of profit is linked to the global increase in the price of grain, which due to the fierce competition, did not pass on the sale price of the final products.