ECONOMY

Turnover up for most commerce enterprises

turnover-up-for-most-commerce-enterprises

Turnover in commerce may be on the increase, but that doesn’t mean all market players are seeing their trade expanding at the same rate.

The ever growing gap recorded in the last few years between small and big market players in commerce has been confirmed by the annual report of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) for 2018, which was presented on Friday.

According to the group balance sheets of 3,008 commercial companies for the 2017 financial year that researchers ICAP have available, total turnover increased 7.9 percent from 2016, while net profits grew 8.5 percent and operating profits rose by 11.7 percent. Gross earnings rose 3.9 percent in 2017 – the third consecutive year of growth.

The report showed that seven in every 10 companies saw their turnover grow or stay the same in 2017, compared to 2016, while five out of 10 posted a rise in earnings. The increase in the cash flow of large enterprises brought about a 9 percent reduction in their short-term obligations, as the improvement in their finances has allowed them to turn those obligations into long-term