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Athens News Agency: News in English, 09-07-29

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

From: The Athens News Agency at <>


  • [01] Plaisio Computers: profits down 77% in H1
  • [02] Emporiki Bank reports 358.7-mln-euro loss in H1
  • [03] Hellenic Exchanges says net profits down 53% in H1
  • [04] Stocks end 0.44% down

  • [01] Plaisio Computers: profits down 77% in H1

    Plaisio Computers on Wednesday said profits fell 77 pct in the first half of the year, compared with the same period in 2008, totaling 835,000 euros.

    The company announced positive signs in second quarter sales, with sales shrinking by 12.3 pct (84.1 mln euros in the second quarter) from -14.5 pct in the first quarter, further enhancing the company‚s leading position in the Greek market.

    Inventories fell by 12.5 million euros while operating cash flows turned positive (2.7 million euros in the first half of 2009) from -10.7 million in the same period last year.

    [02] Emporiki Bank reports 358.7-mln-euro loss in H1

    Emporiki Bank on Wednesday reported a 358.7-million-euro loss in the first half of 2009 and said bad debt provisions totaled 370.3 million euros, reflecting the continuing impact of adverse economic conditions on the bank‚s lending portfolio‚s quality.

    A bank statement said, Emporiki Bank has implemented a selective commercial policy aimed at boosting lending portfolio quality, focusing on profitability instead of boosting figures.

    The bank successfully completed an 850-mln-euro share capital increase plan in May and successfully sold a 250-mln-euro Lower Tier 1 bond issue, fully covered by Credit Agricole SA. Emporiki Bank also completed a partial restructuring of its debt through repayment of medium-term bonds worth 3.1 billion euros, with the parent company replacing these bonds with new credit lines.

    Net revenues from banking operations grew 9.0 pct in the second quarter, while the average interest margin grew to 1.8 pct from 1.6 pct in the first quarter.

    [03] Hellenic Exchanges says net profits down 53% in H1

    Hellenic Exchanges SA on Wednesday reported a 53-pct drop in its consolidated net profits in the first six months of 2009 to 16.9 million euros, from 35.7 million euros in the corresponding period in 2008.

    The group said consolidated turnover fell 49 pct to 32 million euros from 63.2 million euros in the first six months of the previous year, reflecting a drop in stock markets and a stable turnover in the market. Turnover value totaled 20.5 billion euros, down 58 pct from last year, while in the derivatives market, turnover fell 4.6 pct over the same period.

    Hellenic Exchanges said operating spending totaled 11.6 million euros in the first half of the year, down 15 pct from 2008, while earnings before interest and taxes dropped 57 pct to 19.4 million euros. Net earnings per share fell 49 pct to 0.26 euros.

    [04] Stocks end 0.44% down

    Greek stocks ended moderately lower in the Athens Stock Exchange on Wednesday with the composite index of the market losing 0.44 pct to end at 2,276.18 points. Turnover was a low 103.2 million euros, of which 6.2 million euros were block trades. Sector indices ended mixed, with the Media (2.84 pct), Technology (2.31 pct), Chemicals (1.72 pct) and Utilities (1.69 pct) scoring the biggest percentage gains of the day, while Banks (1.84 pct), Industrial Products (0.93 pct) and Raw Materials (0.76 pct) suffered losses.

    The FTSE 20 index eased 0.85 pct, the FTSE 40 index ended 0.58 pct up and the FTSE 80 index rose 1.32 pct. Broadly, advancers led decliners by 122 to 83 with another 48 issues unchanged.

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