The management of the company CH. KORDELLOU BROS SA informed about the possible impact that the recent developments in Ukraine and Russia will have on its activities, following a relevant question of the Hellenic Capital Market Commission.
In particular, the company notes the following:
1. The Company has no assets, nor does it sell in either country. In the year 2021, it did not make any purchases from Russia, while the purchases made from Ukraine covered 17% of the total purchases of goods. For items of Ukrainian origin purchased by the Company in 2021, there are alternative suppliers, both in the European Union and in other neighboring countries.
2. Developments are too recent to allow us to make reliable estimates regarding their impact on the Company’s financial performance.
3. The Management of the company closely monitors the developments and is in constant communication with its suppliers so that it can timely evaluate the price fluctuations and the impact on the availability of products, in order to adapt its strategy by balancing the potential financial risks and ensuring the smooth service of its customers. In the event that the crisis lasts a long time, its long-term effects will be re-evaluated and the Company will inform the investing public.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
