Insider Business Fourlis Group has more plans for Cyprus

Fourlis Group has more plans for Cyprus

Fourlis Group plans further expansion in Cyprus this year, according to the 2018 annual report and 2019 action plan of the leading Greek group of companies.

IKEA Pick Up & Order and a new Intersport store are the Group’s next most important moves in Cyprus.

Today, the Group operates an IKEA store and a total of five Intersport stores in Cyprus following the opening of their last store at the Nicosia Mall in November 2018. Intersport’s online store will be fully operational in Cyprus within 2019.

The Group’s plans for 2019 include two more Pick Up & Order Points, one in Greece and one in Cyprus – more specifically, in Limassol. As INSIDER has already reported, the building that will house the new store is the former Orphanides supermarket in Polemidia.

Those premises will also host an Intersport store of the Greek Group and the well-known Starbucks coffee chain. In 2018, the process for the installation of a photovoltaic net metering system at the IKEA Cyprus store continued. The system is expected to be fully operational within the first months of 2019.

By end of 2018, the Group had a total of 4,038 employees. In Cyprus,  178 men and 173 women, while it also maintains five subsidiaries here on the island.

The Group’s activities in Greece accounted for 62% of its 2018 revenue, which is at the same level as in the previous year (62% in 2017). The remaining 38% comes from other southeastern European countries. More specifically, 14% comes from Bulgaria (2017: 14%), 12% from Cyprus – which has increased from 11% in 2017, 9% from Romania (2017: 9% ) and 3% from Turkey (2017: 4%).

For 2017, IKEA Cyprus reported revenue of €44 million and a profit of €5.3 million, while Intersport Cyprus’ revenue was €5.9 million with a profit of €569,000.

By Marios Rousou


Read more:

Top Stories

166 new cases of COVID-19 on Friday

The Health Ministry announced 166 new COVID-19 cases on 30 October, out of 3,672 laboratory tests, taking confirmed infections to 4,217. The break-down of new...

Samos island: two children dead from collapse of wall; six dead in Turkey’s Izmir area

Two children died when a wall fell on them on the island of Samos on Thursday, the first reported Greek casualties of an earthquake...

Protest outside Polish Embassy organized Saturday 15.30

A protest outside the Polish Embassy is being organized for tomorrow, Saturday at 15.30 in solidarity to the women in Poland since the government...

Seismologists warn of strong aftershocks to follow Samos earthquake

Seismologists warned that people should expect a series of strong aftershocks to follow the 6.7 Richter earthquake that hit the island of Samos and...

33-year-old arrested for stealing dogs

A 33-year-old man from Larnaca has been arrested in connection with a case of stealing animals. According to the police an arrest warrant was pending...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...