In Brief
Private casino licenses to get extension, starting September The government will extend the licenses of existing private casinos that are to expire from September onward. The nine casinos (Mont Parnes, Loutraki, Thessaloniki, Halkidiki, Rio, Rhodes, Syros, Xanthi and Corfu) have exclusive operating permits that last 12 years. The license of the Loutraki casino expires in September, with that of Xanthi next, in December. A universal arrangement for all casinos is not unlikely, with an international firm of valuators about to recommend the price for extending a license. In the 12 years of private casino operation in Greece, punters have spent more than 18.5 billion euros and turnover has come to about 4.8 billion euros. Folli-Follie 2006 net profit up 17.7 percent, meets forecasts Jewelry retailer Folli-Follie said yesterday 2006 net profit rose 17.7 percent, boosted by a larger contribution from subsidiary Hellenic Duty Free Shops (HDFS) and strong Asian business. Earnings were in line with analysts’ forecasts. Folli-Follie, which sells jewelry, watches and accessories in Europe and Asia, said net profits rose to 65.2 million euros versus an average forecast of 65.98 million euros. Last year Folli-Follie raised its holding in HDFS to 52.3 percent. Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 79.5 percent to 121.2 million euros, with sales more than doubling to 484.4 million euros, helped by new store openings and growing brand awareness in Asia. Sales in Asia accounted for 43 percent of total turnover. Japan, Folli-Follie’s key market, contributed 21 percent of total sales. (Reuters) Duty Free Hellenic Duty Free Shops (HDFS) said yesterday 2006 net profit rose 13.6 percent to 43 million euros, thanks to strong business at Athens airport and a UK acquisition. The figure was broadly in line with an average forecast of 44.2 million euros in a poll of analysts. HDFS has exclusive rights to run duty-free retail stores at border crossings in Greece until 2048. Sales grew 14.8 percent to 300 million euros as strong business at Athens airport and the consolidation of British jeweler Links of London offset lower duty-free fuel sales. HDFS stopped selling tax-free fuel to departing non-EU drivers at two Greek border crossings after the government revoked its permit in April. (Reuters) Mittal’s Bosnia plant Bosnia’s largest steelmaker, Mittal Steel Zenica, said it had launched a $130 million project aimed at achieving annual output of 2 million tons of metal. The company is a unit of the world’s biggest steelmaker Arcelor Mittal, Mittal Steel Zenica said in a statement. The project entails the reconstruction of blast furnace, basic oxygen furnace, sinter plant, coke plant, power plant and internal transportation at the former socialist-era giant. It should be complete in the next 16 months. (Reuters) Turk jobless rate Turkey’s unemployment rate, measured on a three-month moving average, was 10.5 percent in the November-January period, compared to 9.6 percent in October-December, the Turkish Statistics Institute said yesterday. In November to January of the previous year, the rate was 11.2 percent. (Reuters) Roaming cap European Union ministers have agreed that a proposed cap on mobile phone «roaming» prices should automatically apply to all customers, EU president Germany said yesterday. «All ministers considered it to be of central importance for end customers to be offered an obligatory consumer protection rate,» Germany said in a statement.(Reuters)
