Papoutsanis says sales up 12.5 pct in H1

Papoutsanis ABEE reported a 12.5 pct increase in sales in the first half of 2017 to 10 million euros from 8.9 million in the same period in 2016.

Exports totaled 3.7 million euros, or 37 pct of total turnover. Gross earnings totaled 2.8 million euros in the January-June period, from 2.6 million last year, an increase of 10.4 pct, while gross profit margin eased to 28.2 pct from 28.7 pct hit by an increase in raw materials’ prices.

Pre-tax profits amounted to 250,000 euros in the first half from profits of 190,000 euros last year, while after tax profits totaled 120,000 from 100,000, respectively.