ECONOMY

Manufacturing firms post losses

One in every two manufacturing companies in northern Greece racked up losses in 2011, against just one in every seven in 2007, before the start of the financial crisis, according to figures processed by the Federation of Industries of Northern Greece.

Of the 300 companies that are federation members and were sampled, 47.6 percent registered losses last year. The figures are expected to be much worse for this year.

The hardest hit were furniture makers and manufacturers of construction materials, with 70 percent of the two sectors posted losses in 2011.

The manufacturing companies that seem to be weathering the crisis best are those that produce food and drinks, with two out of every three remaining profitable last year.