Rilken S.A. closed its first semester of 2000 reaching Net Sales of 4.114 mil. GRD and Profits before taxes of 792 mil. GRD. Profits before taxes show an increase of 188% (792 mil. GRD vs. 275 mil. GRD of the corresponding period of previous year) while sales show a slight decrease of 3,8% (4.114 mil. GRD vs. 4.276 mil. GRD).Net sales development as well as the earnings increase are related to the new subsidiary company Schwarzkopf & Rilken Hellas (SRH) which started to distribute Rilken consumer products as of January 1, 2000. The earnings improvement results mainly from a net reduction of administrative and selling expenses which were charged to the new subsidiary, a one-time-effect of selling the warehouse inventories to SRH, as well as increased extraordinary revenues.The consolidated Sales of the Rilken Group show an increase of 62,4% (6.980 mil. GRD vs. 4.298 mil. GRD) while the consolidated Profits increased by 101,4%% (427 mil. GRD vs. 212 mil. GRD)The increase of the consolidated sales is related to the distribution of the Cosmetics products of Henkel Hellas by the affiliate company Schwarzkopf & Rilken Hellas (SRH) where Henkel Hellas S.A holds a share of 49%.The joint distribution of Rilken and Henkel Hellas cosmetics brands at SRH results in the realization of synergies in all functions of the Rilken Group and consequently in the significant improvement of the profits.Rilken S.A. is an Athens based manufacturer and marketer of Cosmetics, specializing in Hair Care products. The company is a member of the Henkel Group which is the majority shareholder of Rilken S.A via its subsidiary Henkel Hellas S.A.The financial statements of Rilken S.A. for the 1st semester 2000, including the consolidated financial statements, are published on August 9, 00.


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