On Monday June 11, 2007, SPRIDER STORES S.A. annual ordinary general shareholders meeting took place at the companys business headquarters on Syrou 1, OSAM area, 153 49 Anthousa Attica.
Amongst other issues included in the daily agenda, the shareholders approved the distribution of euro 0.12 dividend per share, substantially increased by 20% from last year's euro 0.10 dividend per share. Ex dividend date is set to be Tuesday July 3rd, 2007 (all shareholders at the end of the Athens Exchange trading session on July 2nd 2007 will be eligible for the 2006 dividend) while the payment of the dividend will commence on Wednesday July 11.
Mr. Charalmbos Xylouris, group CEO, addressed the shareholders meeting and briefly presented SPRIDER STORES operations, mentioning that the group's main activity is the retail trade of apparels for all family members via a well defined and diverse distribution network. SPRIDER STORES is currently active in 4 countries through a solid network of 51 points of sale (own stores), three of which are located outside Greece and in specific in Sofia, in Skopje and in Bucharest. The group possesses well established brand names in its portfolio and its key sales philosophy is based on maintaining a balanced price - fashion - quality ratio.
A brief analysis followed on the FY 2006 results as well as the group's Q1 2007 results. More specifically in FY 2006, group turnover amounted to ? 94.5 million marking an increase of 29.4% over FY 2005, while earnings before interest tax and depreciation (EBITDA) amounted to euro 19.9 million substantially increased by 40% in relation to FY 2005. Accordingly, group net earnings after tax and minorities reached euro 8.4 million for FY 2006 marking an increase of 44% over FY 2005.
Regarding investments completed within 2006, it was mentioned that during last year, a total of euro 13.8 million were invested mainly in expanding operations and enhancing the network by opening new stores while modernizing others.
Concerning future plans for further expanding the group's network both in Greece and abroad, Mr. Xylouris mentioned that during the cource of 2007 another 12 stores will be added, six of which are already operating, and three others will be renovated. Within the next month the group will announce the opening of the second SPRIDER STORE in Romania and more specifically in the city of Timisoara.
Mr. Sakis Hatzioannou, Group President, addressed the shareholders meeting and elaborated on the group's plans for 2007, emphasizing that this year's projections for the volume of sales are set for a total of 11 million items as opposed to 7.5 million items sold in 2006, thus an expected growth of 47% approximately. He also referred to the development of a new state-of-the-art logistics center to be completed in 2007, reflecting a ? 5 million investment, which will increase significantly productivity and will maximize response time as repeat order servicing time will be substantially reduced.
Finally, regarding the projected figures for 2007, consolidated turnover is expected to reach euro 11 million, marking an increase of 19%, while group net operating earnings after tax and minorities are expected to reach euro 11 million increased by 30.6% over FY 2006.

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