Tourism Development Minister Fanni Palli-Petralia said, as we go to press, that a tender would be published shortly for the marina at Faliro. It is but one of the many properties owned by Tourism Development Company, which recently announced its financial results for the year.
The company said profit increased by almost 4% and some 3 million euros of that went to government coffers. For 2007, the company expects to have a particularly good year with revenue to increase to 45.5 million euros from last year’s 41.5 million euros, and profit before taxes to reach 8.7 million against 8.1 million.
The company’s cash flow situation sits at 35 million against 22 million on hand the year before, and by the end of this year, barring unforeseen expenses, cash flow will reach 48 million euros, said the company.