Cypriot beverage company KEO PLC this week reported a net profit of €3.23 million for the first half of 2025, down from €3,529,000 in the same period in 2024.

According to a filing on the Cyprus Stock Exchange (CSE), the group’s main activities remain unchanged since the previous year.

These include the vinification of vine products, the production of beer and juices and the bottling of natural mineral water, which are distributed both locally and abroad.

The group is also active in the import and distribution of beer, wine and spirits, juices, bottled water and other canned food in the local market.

Turnover for the first six months of 2025 stood at €33,395,000 compared with €35,468,000 in the same period in 2024, representing a decrease of 5.84 per cent.

The company attributed the decrease to a non-recurring export agreement that took place in the first six months of 2024.

Moreover, gross profit for the first six months of 2025 amounted to €11,309,000 compared with €11,852,000 in the same period in 2024.

The gross profit margin stood at 33.9 per cent in 2025 compared with 33.4 per cent in 2024.

Profit from operations for the period reached €2,925,000 compared with €3,487,000 during the same period in 2024.

The company said the decrease in profit from operations was due to the lower turnover.

Furthermore, profit before tax stood at €3,644,000 compared with €4,108,000 in 2024, while taxation expenses fell to €414,000 from €579,000.

The group confirmed that there was no other significant information that would affect the assessment of its profit and loss statement.

It added that the major risks and uncertainties it faces remain unchanged from those outlined in its 2024 annual report.

No significant events or transactions affected the financial condition of the company or its subsidiaries during the period, other than its normal operations.

The company also mentioned that the condensed interim consolidated financial statements were prepared in accordance with International Accounting Standard 34 on interim financial reporting and the Securities and Stock Exchange Laws. The statements have not been audited by the group’s external auditors.