Top Kinisis Travel Public Limited has reported a net loss of €181,642 for the first half of 2025, compared with a profit of €29,082 for the same period last year.

The company’s revenue for the six months ending June 30, 2025, amounted to €9,005,565, down 3.33 per cent from €9,315,326 in the corresponding period of 2024.

The decline in revenue was primarily attributed to the geopolitical situation in the Middle East.

The company reported no income from non-recurring or extraordinary activities during the period from January 1 to June 30, 2025.

Top Kinisis Travel’s gross profit margin fell to 10.74 per cent, with gross profit of €967,085, compared with 11.88 per cent or €1,106,940 in the same period of 2024.

The reduction in gross profit margin was largely due to intense competition from other travel organisers.

Management expenses rose 19.26 per cent to €1,193,068 from €1,000,379 in the prior-year period, reflecting salary increases, recruitment of new staff to support technological upgrades, and the provision of online booking services for customers.

Sales expenses increased by 32.06 per cent, from €201,223 in 2024 to €265,744 in 2025, primarily due to higher advertising and promotional costs to counter competitive pressures.

Finance expenses grew by 10.93 per cent, rising from €19,220 in 2024 to €21,321 in 2025.

The loss per share attributable to shareholders was -1.49 cents, compared with earnings per share of 0.24 cents in the same period last year.

The company paid a dividend of €0.01 per ordinary share during the first half of 2025, totalling €122,120.

Top Kinisis Travel’s board noted that, taking into account the seasonal nature of its operations, it considers the first-half results satisfactory.

The board also expressed confidence that the company is expected to return to profitability for the full year.

The group’s activities, which include travel and tourism services, representation of airlines, luxury cruises, and theme parks, as well as conference organisation, are exposed to various risks and uncertainties.

Key risks include credit risk, liquidity risk, market risk from adverse movements in exchange rates and interest rates, and operational risk.

Additional factors affecting performance include domestic and international economic and geopolitical developments, extreme weather events, wars and terrorist actions, increases in staff costs and energy expenses, and heightened competition both in Cyprus and from neighbouring countries.

Finally, the group said that it monitors and manages these risks through various control mechanisms.