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Athens News Agency: News in English, 09-05-27

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] ETEM reports mixed Q1 results
  • [02] Thrace Plastics reports lower Q1 results
  • [03] EIB funds for Greek SMEs
  • [04] Stocks jump 2.69 pct

  • [01] ETEM reports mixed Q1 results

    ETEM on Wednesday said its consolidated sales fell 42.8 pct to 24.3 million euros in the first three months of 2009, while parent sales also fell by 48.1 pct to 13.7 million euros.

    Consolidated pre-tax, interest and amortization earnings (EBITDA) fell to 1.05 million euros in the January-March period, from 3.3 million euros last year, while consolidated after tax and minorities earnings rose to 3.2 million euros from 300,000 euros in 2008. Consolidated earnings per share rose to 0.1051 euros per share, from 0.0090 euros in 2008.

    Parent after tax earnings rose to 3.0 million euros, or 0.1004 euros per share in the first quarter, from 1.4 million or 0.0450 euros per share in 2008.

    [02] Thrace Plastics reports lower Q1 results

    Thrace Plastics on Wednesday reported a 21.5-pct decline in its consolidated turnover to 46.3 million euros in the first quarter of the year, down from 59 million euros in the corresponding period in 2008, while consolidated pre-tax profits fell 18.4 pct to 1.7 million euros, from 2.1 million euros last year.

    Consolidated after tax and minorities earnings totaled 1.2 million euros, down 18.4 pct from 2008, while consolidated EBITDA fell 9.6 pct to 5.8 million euros.

    The company said its first quarter results were in line with expectations.

    [03] EIB funds for Greek SMEs

    The European Investment Bank (EIB) on Wednesday signed two partnership agreements with ATEbank and Marfin Egnatia Bank to channel low-cost loans to small- and medium-sized enterprises in Greece.

    The two contracts, worth 180 million euros, were signed in Athens by EIB vice-president Ploutarhos Sakellaris, ATEbank Gov. Dimitris Miliakos and Marfin Egnatia Bank CEO Efthimios Bouloutas.

    The new line of credit will be offered to SMEs in the fields of manufacturing, farming, commerce and tourism. Sakellaris said the deal sends a strong message of support of investments by Greek SMEs.

    The EIB has signed funding agreements totaling 680 million euros in Greece. Under the terms of the contracts, Greek banks will offer an additional 680 million euros, raising the total amount funnelled to the real economy at 1.3 billion euros.

    [04] Stocks jump 2.69 pct

    Greek stocks resumed their upward trend in the Athens Stock Exchange on Wednesday, with the composite index of the market rising 2.69 pct to end at 2,294.82 points. Turnover was a low 207.3 million euros, of which 6.3 million euros were block trades.

    Most sectors moved higher, with the Insurance (10.92 pct), Health (6.24 pct), Utilities (4.31 pct) and Financial Services (4.28 pct) scoring the biggest percentage gains of the day, while Travel (2.05 pct) and Personal/Home Products (0.46 pct) suffered losses.

    The FTSE 20 index jumped 2.63 pct, the FTSE 40 index ended 2.86 pct higher and the FTSE 80 index rose 1.94 pct. Broadly, advancers led decliners by 195 to 39 with another 43 issues unchanged.


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