Papoutsanis says turnover up 15.5 pct in 2016

Papoutsanis ABEE reported a 15.5 pct increase in its 2016 turnover to 18 million euros, from 15.6 million in 2015, reflecting an increase in sales in Greece and abroad.

Exports totaled 6.5 million euros, or 35.9 pct of total turnover, up from 35.4 pct in the previous year, while brand product sales accounted for around 27.2 pct of total turnover. Papoutsanis said sales of brand products grew 27.6 pct in 2016 from the previous year. Sales to hotels accounted for 38.4 pct of turnover, up 48.6 pct from 2015.

Gross earnings totaled 5.0 million euros in 2016, from 4.0 million in 2015, up 23.4 pct, reflecting a significant increase in productivity and production cost reduction. Pre-tax earnings totaled 119,700 euros in 2016, from 54,600 in 2015, while after tax results showed a loss of 50,000 euros from a loss of 415,000 euros in 2015.

The company plans to strengthen its turnover and to improve its profitability.