Greek Kloukinas Lappas, a franchisee of British maternity, baby and children's clothes store chain Mothercare for Greece and southeastern Europe, aims to raise up to 20 its Mothercare stores abroad in 2006.


The company plans to open more than three new Mothercare stores in Bulgaria and Romania and up to 15 stores in Croatia, Slovenia, Hungary and Serbia.

Until now, Kloukinas Lappas operates five Mothercare stores in Fyrom, Bulgaria and Romania.

Its Mothercare Romanian stores reported profits in their first year of operations.

Its sales reached 53.2 mln euro in 2005, while its profit for the same period is expected to range between 10 mln and 11 mln euro.

The company plans to pay a dividend of 0.36 euro per share in 2005, almost flat year-on-year.

Kloukinas Lappas shareholders approved a two-to-one share issue through the capitalisation of 4.1 mln euro of its reserves.

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