GREECE: Boutaris H1 profits down, sales up
J. Boutaris & Son Holdings has posted a slight fall in H1 pre-tax profits. The Greek wine and spirits producer saw profits before tax for the first half of 2004 drop to €1.35m (US$1.65m) from €1.45m in the corresponding period last year.
Turnover rose year-on-year, however, by 1% to €38.4m for the first six months of 2004.
The company's earnings before interest, depreciation and amortisation (EBITDA) reached €6.8m, up 2% year-on-year.
In 2003, the company's EBITDA rose by 18% year-on-year to €8.14m, based on sales of €75.3m, an increase of 2.6% for the 12-month period.
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