Mitsides Public Company Ltd. reported preliminary unaudited consolidated financial results for the year ended December 31, 2014. The Group's turnover in 2014 amounted to €39,114,078, compared to €38,999,048 in 2013, showing an increase of 0.3%. The Group's loss after tax for 2014 amounted to €2,012,713, compared to a loss of €739,704 in 2013. Loss before tax for was €1,993,171, compared to a loss of €659,656 in 2013. Basic and fully diluted loss per share was 24.50 cents against 9.02 a year ago. The Group's results were adversely affected by the results of the subsidiary Mitsides Point AD, which is based in Serbia and whose loss for the year 2014 amounted to €2,259,415, compared to a loss of €821,584 in 2013.

Based on the evidence to date, the Group's results in 2015 are expected to be improved compared with those of 2014. The Board of Directors closely follows economic developments both in Cyprus and internationally, and takes measures to reduce operating costs and increase productivity and turnover.