Lordos United Plastics Public Ltd (the "Company"), in view of the restrictive measures undertaken in certain sectors of the economy, wants to inform its shareholders and the investing public that it does not expect any serious financial impact from the spread of Coronavirus in Cyprus.
To date the main sectors of production of the Company’s factories, namely construction, industrial and agricultural products, are operating normally and sales have not been adversely affected. On the contrary the are keep trading with an upturn.
In case restrictive measures will also be imposed by the Government in these sectors, then it is likely that there will be significant economic impacts.
With regards to household products, there will be a reduction due to the restrictive measures introduced until April 30 in hotels and restaurants.
Increase is expected in relation to some products when it comes to retail sales i.e. essentials and decrease in sales of secondary household products.
In case of any developments as to restrictive measures that may be extended, the Company will follow up with an updated announcement.