PRESS RELEASES / ANNOUNCEMENTSBACK
Net profit of Grd 416 Mln in 1st quarter 2000
Consolidated net profit for Attica Enterprises Group reached Grd 416 mln despite the sharp rise in oil price which affected considerably the Groups results.
Atticas wholly owned subsidiary Superfast Ferries Maritime S.A. showed a 2.3% increase in turnover at Grd 5.2 bln although there were fewer sailings in 2000, 257 sailings versus 304 in 1st quarter 1999. The increase in the operational cost is mainly due to the cost of fuel for which the company spent Grd 750 mln more than in the same period of the previous year.
Strintzis Lines which is consolidated in the Groups accounts for the first time showed a 7.4% increase in turnover which reached Grd 4.4 bln versus Grd 4.1 in 1st quarter 1999. Net result for Strintzis Lines was a loss of Grd 481 mln against Grd 9 mln in 1st quarter 1999 mainly caused by the increased cost of fuel which reached Grd 1 bln. It should also be noted that Strintzis results of the 1st quarter of 1999 included extraordinary profits of Grd 436 mln derived from the sale of its Swansea - Cork subsidiary.
Voula, 30th May, 2000
For more information please contact:
Mr. Yannis Criticos,
Attica Enterprises S.A.,
tel.: +301 891 9500,
fax : +301 891 9509,