Print this page

Profitable 1st Quarter 2015 in PPA S.A.

Piraeus, 29.05.2015

PRESS RELEASE

Profitable 1st Quarter 2015 in PPA S.A.

 

PPA SA BoD approved the interim financial statements of the quarter January - March 2015 in accordance with international financial reporting standards.
Despite reducing turnover by 6.16% due to the technical problems of the Pier I, gross profit amounted to Euro 3,126,898 against Euro 2,806,123 for the corresponding period of 2014.
Operating expenses decreased by 6.73%, while other expenses decreased 71.22%. The consumptions of spare parts decreased by 40.61% and depreciation by 1.20%.
Earnings before taxes amounted to € 528,073 compared to € 658,068 in 2014, while net profit after tax € 726,061 against € 1,036,002 of 2014.
Cash and cash equivalents of the Organization increased from € 55,283,017 to € 56,297,333.