K. Kythreotis Holdings revenue rises, but first-half profit falls sharply
Higher land development activity lifted first-half revenue, while rising raw-material and fuel costs weighed on quarrying and ready-mixed concrete profits.
Nicosia, Cyprus. K. Kythreotis Holdings Public Ltd reported a 4 per cent rise in revenue to €13.03 million in the six months to June 30, 2026, from €12.54 million a year earlier, mainly due to increased land development activity. Profit for the period fell to €583,100 from €1.37 million.
Costs weigh on margins
The cost of sales rose to €11.64 million from €10.32 million, more than offsetting the increase in revenue. Gross profit fell 21.8 per cent to €1.39 million from €2.22 million, while the gross profit margin narrowed to 10.7 per cent from 17.7 per cent.
The group attributed the weaker margin mainly to lower returns from its quarrying and ready-mixed concrete operations following increases in raw-material and fuel costs.
Profit and expenses
Operating profit fell to €692,200 from €1.59 million. Pre-tax profit declined 57.1 per cent to €669,500 from €1.56 million, and basic and diluted earnings per share fell to 1.37 cents from 3.23 cents.
Selling and marketing expenses more than doubled to €104,900, largely because of estate agency commissions linked to the group’s land development business.
The figures were included in the group’s unaudited interim consolidated financial statements, which its board approved on Wednesday.
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