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Keo Plc’s H1 2025 Results: Profit Levels Adjust Amid Consistent Operations

Stable Business Model Underpins Performance

Cypriot beverage giant Keo Plc reported a net profit of €3.23 million in the first half of 2025, a slight decline from €3.529 million recorded during the same period in 2024. The company continues to focus on its core operations—vinification, beer and juice production, and the bottling of natural mineral water—which are distributed both domestically and internationally.

Revenue Contraction Driven by Export Volatility

The group’s turnover decreased to €33.395 million from €35.468 million year-over-year, reflecting a 5.84% decline. This reduction was primarily attributed to a non-recurring export agreement that bolstered revenues in the previous period. Gross profit experienced a modest dip as well, though the gross profit margin improved marginally from 33.4% in 2024 to 33.9% in 2025.

Operational Adjustments and Fiscal Outcomes

Operating profit fell to €2.925 million, down from €3.487 million, mirroring the decrease in turnover. Profit before tax also dropped to €3.644 million from €4.108 million, while taxation expenses were streamlined to €414,000 from €579,000. Despite these figures, Keo Plc confirmed that there were no significant changes in its overall risk profile, as outlined in the 2024 annual report.

Commitment to Transparent Financial Reporting

The interim consolidated financial statements for H1 2025 were prepared in accordance with International Accounting Standard 34 and the Securities and Stock Exchange Laws. It is important to note that these statements have not been audited by the company’s external auditors, reflecting their preliminary nature during this transitional reporting period.

Robust Meat Market Dynamics Ensure A Fully Stocked Easter Feast

Meat supply increased ahead of Easter 2026, with prices remaining broadly stable despite higher seasonal demand, according to data from slaughterhouses and the Consumer Protection Service Price Observatory.  Market data show higher volumes of lamb and pork alongside limited price increases across key categories.

Strong Supply And Price Stability

Recent data indicate increased meat supply compared to the same period last year, supporting availability during peak demand. Higher volumes helped limit price increases across most product categories. Stable supply conditions contributed to controlled pricing despite seasonal pressure on demand.

Enhanced Competition With Greek Lamb Imports

Market supply was supported by the import of 4,000 lambs from Greece, increasing availability and competition. Additional supply contributed to price stability across lamb products. Domestic production adjusted as imports increased, with 2,105 fewer lambs processed locally on Great Tuesday compared to the previous year.

Dynamic Production Trends In Meat Processing

A total of 19,883 lambs were slaughtered over the past six days, marking a 6% increase compared to the same period last year. Pork production also increased, with 10,655 pigs processed versus 9,452 a year earlier, representing a 13% rise. Higher output across categories reflects increased supply ahead of the holiday period.

Price Adjustments In Key Meat Categories

The average price for locally sourced lamb reached €14.10 per kg, up 4.76% compared to last year. Pork prices declined, with tenderloin averaging €5.97 per kg (-4.47%) and neck cut €6.16 per kg (-1.62%). Poultry remained stable at €4.16 per kg, recording a marginal decrease of 0.05%, maintaining its position as the lowest-cost option.

Overall Cost Implications For The Festive Table

An indicative Easter table for eight people is estimated at €186.42 in 2026 for 19 basic products, compared to €179.36 in 2025, reflecting a 3.9% increase. Meat prices had a limited impact on the increase. Higher costs were driven by vegetables, with tomatoes rising by 81.73% and cucumbers by 42.24%. Prices for fresh potatoes and olive oil declined by 12% to 19%, partially offsetting overall costs.

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