PPC Profits Soar
- Written by Maria Athens
Today, Public Power Corporation reported that its pre-tax profits soared to 109.3 million euros in 2014's first quarter, compared to 45.1 million euros in last year's timeframe.
PPC determined that the improvement amounts to the introduction of a natural gas price discount, that was administered in the last six months of 2013, and a 21.3 million euro return by Mytilineos Group member Aluminium. Without these elements, pre-tax strides would amount to 64.8 million euros in the time period.
According to ANA-MPA, PPC Chairman and Chief Executive Arthuros Zervos described the results, "...in a difficult economic environment, PPC's strategic options and measurable achievements strengthened its credibility and its outlook, a fact reflected in S&P's decision to upgrade PPC's credit rating by three notches from CCC to B".
Related items
-
Polylimnio, the hidden treasure of Messinia (vid)
-
Turkey: Inflammatory rhetoric ahead of bilateral meeting
-
Greece-France ink deal for frigates and defense agreement
-
Monica Bellucci in Athens for three nights for play about Maria Callas
-
Greece - pandemic - What do infection specialists expect for the end of September?