ATHENS, GREECE -- (Marketwire) -- 08/31/10 -- For the First Half of 2010, Eurodrip (ATHEX: EDRIP) posted a 16.5% increase in Consolidated Earnings before Tax and an 12% increase in Consolidated Turnover compared to the respective period in 2009.
Earnings growth has been higher than revenue growth for Eurodrip and the forecast is this to be maintained.
Strong global market diversification, steady penetration in international markets and enhancement of manufacturing capacity in Turkey, US and Peru, led to positive financial results and managed to offset the shrinking Greek domestic activity. Eurodrip both through its Operating companies in USA, Mexico, Greece, Turkey, Egypt, Jordan and Peru and its network of independent dealers in over 60 countries is the leading European supplier of Drip Irrigation Systems.
Financial results of the parent company are as follows:
Eurodrip S.A. is subsidiary of Global Capital Investors II fund, with Global Finance, the leading Private Equity firm in South East Europe, being the consultant.