BUSINESS

Most listed firms swing to profit in 2016

ANESTIS DOKAS

TAGS: Business

It has taken exactly six years for profit-making companies to regain the upper hand over loss-makers in the Greek stock market.

The extent of the domestic recession meant that for 72 months – from the fourth quarter of 2010 up to and including the third quarter of 2016 – the number of listed companies with losses came to at least twice those showing profits.

However, the 2016 results including the fourth quarter of last year, issued within the Capital Market Commission’s April 30 deadline, showed 100 listed companies in the black and 79 in the red. Out of the 211 listed firms, only 179 made the deadline (84.8 percent).

According to the final processing of the financial results by Beta Securities and its head of research, Manos Chatzidakis, the sum of net profits after tax and minority rights amounted to 1.249 billion euros last year, against losses of 6.826 billion euros in 2015. Excluding the credit sector (banks, insurers and investment companies) the sum amounts to 2.008 billion euros, against profits of 1,013 billion in 2015.

Total sales came to 59.92 billion euros against 61.45 billion the year before, and operating profits (EBITDA) reached 8.35 billion from 7.29 billion in 2015.

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