ECONOMY

Papoutsanis group turnover up 14 percent to 12.6 mln euros in Jan-Sept period

Greek soap-maker Papoutsanis SA on Tuesday said that group turnover for the first nine months of the year rose by 14 percent to 12.6 million euros compared to 11 million euros from the same period in 2012.

Papoutsanis brand products accounted for 22 percent of sales in the period, sales to hotels accounted for 23 percent and industrial sales and production for third parties came to around 55 percent.

Exports accounted fro some some 39 percent of annual turnover, Papoutsanis, one of the country’s leading soap manufacturers, said.

Mixed profits for the nine-month period rose to 3.1 million euros from 1.8 million euros in January-September 2012, confirming the success of continuing efforts to develop sales, reduce industrial costs and improve product marketing and quality.

As a result of its drive to boost sales, Papoutsanis saw a rise of operating costs to 2.7 million euros in January-September 2013 compared to 2 million euros in the same period last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 48 percent to 1.6 million euros from 1.1 million euros in 2012.