BUSINESS

Most listed firms see losses grow

By Anestis Dokas

While systemic banks’ financial results are improving the balance for listed companies in 2013, the rest of the firms on the Athens bourse chart have shown a marked deterioration compared with 2012, according to the existing sample available until Monday afternoon – i.e. 60 percent of all listed companies.

From the total of 135 financial reports submitted, total after-tax losses amounted to 753 million euros. However, if one adds the earnings of Alpha Bank (2.92 billion euros) and Piraeus Bank (2.53 billion), net profits after tax and minority rights amount to 4.7 billion euros, compared with losses of 5.57 billion in 2012.

The 135 firms’ turnover posted a 5.96 percent decline from 2012, coming to 49.5 billion euros against 52.6 billion for the same companies in 2012. Operating profits fell 11.74 percent from 2012, reaching 4.27 billion euros in 2013.

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