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.