Germanos profits soar

Phone and accessories retailer Germanos posted a 417 percent rise in first-half group net profit yesterday, boosted by one-off gains from the sale of equity holdings. Net profit rose to 143 million euros from 27.7 million in the same period last year. Sales rose 25.4 percent to 538.8 million euros. Germanos said results were boosted by the sale of its 24.7 percent stake in Hellenic Duty Free Shops (HDFS) and its 20 percent holding in Uzbek mobile operator Unitel earlier in the year. In May, mobile operator Cosmote agreed to buy 42 percent of Germanos for 651 million euros. (Reuters)

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