ECONOMY

Public Power Corporation announces profits

Public Power Corporation announces profits

Public Power Corporation said on Thursday its operating profit totaled 225.6 million euros in the first quarter of 2021, on a repeated basis, from €182 million in the same period in 2020, reflecting lower spending on energy purchases due to higher production from PPC’s hydroelectric and natural gas power units.

Pre-tax results showed a loss of €29 million, after profits of €3.5 million in 2020, due to the one-off impact of payroll payments.