“Despite a drop in operating profit resulting from increased administrative expenses, as a result of the group’s expansion into new markets and the increase of its range of available products, there is a significant drop in interest paid and other related bank expenses,” Logicom said in a statement on the website of the Cyprus Stock Exchange on Thursday.
The increase in operating expenses was due to “increased staff and infrastructure expenditure,” the company said. Logicom posted an after tax profit of €5.4m in January to June 2015.
Source: Cyprus Mail
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Georg Bühler, ,
Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
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