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.