Cyprus Forest Industries Public Ltd. provided earnings guidance for the first half of 2012. The company announced that the results for the first half of 2012 will show increased losses compared to the results of the corresponding period of 2011. The main reasons are the following: The drop in the turnover by 26% due to the recession in constructions affecting negatively the demand in industrial wood products in the domestic market and due to increased competition from imported goods; the increased finance cost; the losses from compensations to eleven redundant employees in May 2012; the losses form revaluation and sale of financial assets available for sale.