ECONOMY

Huge losses in February for food service

huge-losses-in-february-for-food-service

Turnover for the food service sector in the first couple of months of this year was 135.15 million euros lower than the same period last year, according to data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).

In fact, the real losses are much higher and expected to emerge with the first-quarter figures, which will also include the smaller companies that submit their data every three months.

With the exception of enterprises that have been offering delivery and takeaway services, the sector is entering its sixth month of lockdown and is not set to reopen before May 4 at the earliest.

In February 2021 the sector’s turnover dropped 55.4% year-on-year to €51.67 million, ELSTAT figures revealed. In Attica, which records the bulk of the country’s turnover in wintertime, that slump amounted to 57%. The biggest slide was in Magnesia (87%) and the smallest in Evia (23.8%).

In the hospitality sector, which is also suffering due to the ban on travel, turnover in February fell 68.6% year-on-year to €24.59 million, from €78.22 million in 2020. In January-February the sector recorded a turnover of just €44.07 million, against €153.21 million in 2020.