ECONOMY

Ellaktor’s 2011 profit up on share sale

Ellaktor SA, Greece?s biggest builder, posted a profit of 72.8 million euros in 2011 compared with a 500,000-euro profit in 2010, according to an Athens bourse filing on Friday.

Sales fell to 1.2 billion euros in 2011 from 1.75 billion euros the year before, the filing showed.

Ellaktor?s board will propose no dividend payment on 2011 earnings, according to the filing.

Ellaktor?s net income was boosted by profits from the sale of shares in European Goldfields Ltd, the company said in the filing.

[Bloomberg]