|
|
|
Athens Macedonian News Agency: News in English, 14-05-29
CONTENTS
[01] PPC reports higher pre-tax profits in Q1
[01] PPC reports higher pre-tax profits in Q1
ANA/MPA---Public Power Corporation (PPC) on Thursday said its pre-tax
profits jumped to 109.3 million euros in the first quarter of 2014,
from 45.1 million euros in the same period last year.
PPC attributed this development to a retrospective introduction of a
discount in natural gas prices for the second half of 2013 (following an
agreement between Gazprom and DEPA) and a return of 21.3 million euros
by Aluminium (a member of Mytilineos Group). Excluding these two factors,
pre-tax profits would be 64.8 million euros in the January-March period.
Turnover was almost unchanged at 1,488.9 million euros, while the volume
of sales in the domestic market fell by 2.9 pct to 12,130 GWh due to
milder weather conditions during the winter period.
Arthuros Zervos, chairman and chief executive of PPC, commenting on the
results said that "in a difficult economic environment, PPC's strategic
options and measurable achievements strengthened its credibility and
its outlook, a fact reflected in S&P's decision to upgrade PPC's credit
rating by three notches from CCC to B."
|
