Petros Petropoulos Group says sales down, profits up in 2017

The Petros Petropoulos Group on Thursday reported lower sales but higher profits in 2017. Consolidated sales fell 21.5 pct to 73.2 million euros (93.2 million in 2016), while pre-tax earnings grew 33.3 pct to 3.2 million euros from 2.4 million in the previous year. After tax and minorities earnings jumped 76.9 pct to 2.3 million euros in 2017 from 1.3 million in 2016. EBITDA rose 1.8 pct to 5.7 million euros in 2017, from 5.6 million in 2016.

Total bank loans grew 23.1 million euros, net bank borrowing fell to 9.6 million, while cash grew to 13.5 million euros in 2017.

The group’s solvency rate was 58.5 pct in 2017, from 56.5 pct a year earlier.

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