**Kythreotis Holdings Anticipates Lower Earnings for First Half of 2026**
Kythreotis Holdings, a prominent producer of construction materials in Cyprus, has issued a warning regarding its financial outlook for the first half of 2026. The company expects its results to be significantly lower than those recorded during the same period in the previous year. This decline is attributed to adverse weather conditions and rising fuel costs that have negatively impacted operational activity.
In an official announcement, Kythreotis Holdings indicated that the weaker performance is primarily due to a drop in revenue experienced during the early months of 2026. The company cited unusually rainy weather as a key factor contributing to this decline, which has hampered construction activities. Additionally, the rising costs of fuel, influenced by fluctuations in international energy prices, have further strained the company's performance.
This forecast marks a notable shift for Kythreotis Holdings, which reported a stronger first half in 2025. During that period, the company benefited from increased income, particularly from its ready-mix concrete operations, leading to higher profits.
In a separate development, Kythreotis Holdings held its annual general meeting on June 25, 2026, where shareholders approved a dividend payment of €0.027 per share. This dividend corresponds to 15.9 percent of the nominal value of the shares and reflects the company's ongoing commitment to returning value to its investors. The record date for the dividend has been set for July 10, 2026, with shares trading cum-dividend until July 8. From July 9, the shares will trade ex-dividend.
The company noted that beneficiaries of the dividend will include investors who acquire shares through off-floor transactions finalized and recorded in the dematerialized securities system by the proposed record date. The payment date for the dividend is scheduled for July 22, 2026, with further details on the posting date to be provided later.
The annual general meeting was attended by a total of 17 shareholders, seven of whom were present in person, while the remaining ten participated by proxy. Together, they represented 84.86 percent of the company's issued shares. The agenda for the meeting focused on ordinary business matters, including the submission of the audited consolidated financial statements for 2025, the consolidated management report, the auditors' report, and the corporate governance report.
During the meeting, shareholders were given the opportunity to engage in discussions about the company's performance and future strategies. The remuneration report was also approved, and directors Petros Kythreotis and Constantinos Adamides, who had retired by rotation, were re-elected to their positions. The remuneration for non-executive directors was maintained at the same level as determined during the 2022 annual general meeting.
Additionally, RSM Cyprus Ltd was re-appointed as the statutory auditor for the company, ensuring continuity in financial oversight and accountability.
As Kythreotis Holdings navigates the challenges posed by weather and rising fuel costs, the company remains focused on its strategic objectives and maintaining shareholder value amid a fluctuating market environment.