Kronos Distribution

Kronos Press Distribution Agency Ltd was established in 1986 as a privately owned company with the purpose of distributing, circulating and selling newspapers, magazine, books and other print publications to the local market.

It started out as a small firm, employing three people, owning two distribution cars and visiting 200 outlets per week, mainly kiosks.Today KRONOS employs around one hundred people and has a fleet of 65 cars, visiting 1100 outlets twice a day.

Since its establishment the company is experiencing a steady growth, as regards its financial performance, since both its revenue and its profitability have been growing every year since 1986.

At present the company is the leader in the press distribution market, as it is the sole distributor of all Greek newspapers and magazines in Cyprus. Furthermore, with the recent participation of the two larges local publication groups in its shareholding (Phileleftheros and Dias) and consequently the undertaking of their press distribution business, KRONOS managed to capture 70% of the total market distribution of local newspapers and magazines.

The year 2000 was a landmark in the company’s history. In January 2000 KRONOS became a Public Company, and in August of the same year was listed in the Cyprus Stock Exchange issuing 24, 400, 000 ordinary shares with a nominal value of ₤0.25 and a launching price of ₤0.65 per share.

After its establishment as the market leader and the largest press distribution company in Cypruys, KRONOS expanded its activates in other sectors of the economy thus capitalising on its strong distribution network. It therefore became the bigger sub-agent of Cyprus Telecommunications Authority (CYTA) for the distribution and sale of CYTA’s products such as telecards, so-easy cards etc. Part of its expansion strategy was the acquisition of 100% of Pathin Import & Export Co. Ltd in July 2001, and the acquisition of 29% of Mitsios Trading Ltd in April 2001.