Piraeus, 28.05.2014
Press Release
Τhe 1st quarter (01.01.2014-31.03.2014) of PPA SA closed with a steady profitability, according to the interim financial statements as adopted by the Board of Directors.
Although the winter season is not a time of full of activity in the sectors of the Company,
a. Turnover declined slightly by 2.6 % compared to 2013,
b. Profit before tax increased from 360.137 Euro in 2013 to 658.068 Euro in 2014
c. Total income after taxes remained almost at the same level (1.135.514 in 2013 and 1.025.241 in 2014),
d. Earnings per share to 0.0414 in 2014 versus 0.0457 in 2013 and
e. Total operating expenses decreased by 2.35%, while other operating expenses decreased by 26.89%.
It is noted that the cash and cash equivalent increased to 45.669.097 Euro in the first quarter of 2014, making the PPA one of the few companies that have high amounts on cash and cash equivalent, which at the end of the year will exceed ½ of the total turnover enabling the self funding of many development projects.
