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Athens News Agency: News in English, 09-03-19

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Kri-Kri Dairy reports improved 2008 results
  • [02] Unemployment rate drops
  • [03] Greek shipping support for MIG

  • [01] Kri-Kri Dairy reports improved 2008 results

    Kri-Kri, a Greek-listed dairy producer, on Thursday reported an 18.9-pct increase in its 2008 parent sales to 38.172 million euros and a 9.5-pct increase in its net after-tax profits to 2.570 million euros, up from 2.348 million euros in 2007.

    The company said EBITDA rose 21.7 pct to 5.261 million euros, while pre-tax profits totaled 3.502 million euros for an increase of 12.3 pct.

    Consolidated turnover rose 17.8 pct to 39.736 million euros in 2008, EBITDA jumped to 5.381 million euros from 4.527 million in 2007 and pre-tax profits rose to 3.505 million euros from 3.093 million euros in 2007.

    Net consolidated profits, after tax and minorities totaled 2.573 million euros, up 10.8 pct from 2007. The company plans to pay a 0.0540 euros per share dividend to its shareholders, up 16.9 pct from the previous year.

    [02] Unemployment rate drops

    The unemployment rate in Greece eased to 7.9 pct of the workforce in the fourth quarter of 2008, down from 8.1 pct in the corresponding period in 2007, the National Statistical Service announced on Thursday.

    The service, in a report, said the unemployment rate in the fourth quarter of 2008 was the lowest rate in the same quarter since 1998. The unemployment rate among women totaled 11.7 pct, more than double the 5.7-pct rate among men. Teens and young adults, aged 15-29, recorded the highest unemployment rate (16.5 pct).

    The report said 86.7 pct of unemployed people were seeking a full time job, while the percentage of new unemployed (first time unemployed) was 34 pct of all unemployed persons, while the long-term unemployed (out of job for more than 12 months) stood at 47 pct of total unemployed.

    Western Macedonia (12.6 pct), Epirus (10.5 pct) and western Greece (9.8 pct) recorded the highest unemployment rates amongst Greek regions, while the northern Aegean (4.6 pct) and Attica prefecture (6.8 pct) recorded the lowest rates.

    The number of employed people in the country totaled 4,553,623 at the end of the fourth quarter of 2008, while the percentage of those holding part-time jobs 5.7 pct.

    [03] Greek shipping support for MIG

    Marfin Investment Group (MIG), Greece's largest business group, belongs mainly to the Greek shipping community and would have never reached its current position without the active support of the shipping industry, MIG vice-chairman Andreas Vgenopoulos said on Thursday.

    Addressing a reception at the Piraeus Shipping Club, Vgenopoulos said MIG was the main investment arm of worldwide Greek shipping, investing in the east Mediterranean country and in more than 40 countries.

    He stressed that business leaders have a duty to take actions and initiatives supporting the economy and the society in times of an international economic crisis and noted that representatives of the Greek shipping industry were doing their duty by preserving job positions amid adverse economic conditions, maintaining high wage levels and continuing investments, many of them through MIG.

    The high-profile MIG executive said a global economic crisis looks like a partly destroyed train running at low speed, risking passengers' lives, moving towards the exit of a tunnel.

    Commenting on the Greek economy, Vgenopoulos emphasised on a lack of competitiveness and its high public debt. The situation was getting worse from a lack of liquidity in the market, he said, adding that the domestic banking sector's significant presence in southeastern Europe was worsening conditions.

    Vgenopoulos said lower profits by domestic banks would hit public revenues as well, while commenting on an agreement reached with the Greek state to buy national carrier Olympic Airways and its ground service, he said it the result of collective efforts reached after negotiations with several members of the shipping community.

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