ECONOMY

Metka sees 9M profits shoot up

Power plant builder Metka reported strong nine-month earnings yesterday, boosted by growing business in Turkey. Metka, which is also present in Syria, said that nine-month net profits rose to 70.1 million euros, from 19.9 million euros, beating analysts’ estimates. Piraeus Securities said in a morning note yesterday that it was expecting net profits of 67 million euros. «After the recent signing of a deal in Syria, reaching 680 million euros, Metka’s order book totals 2.4 billion euros,» Mytilineos Holdings, which owns Metka, said in a statement. Shares in Metka, which has a market capitalization of 457.1 million euros, have risen just over 1 percent in the last three months, versus a 9.4 percent dip on the broader market. At the parent level, Mytilineos reported a nine-month net profit of 57.7 million euros versus 18.3 million in the same period a year earlier.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.