An analysis by Beta Securities showed on Monday that Greek listed companies reported a 17.3 pct increase in their operating earnings in the first quarter of this year, while after tax earnings fell by 102.3 pct. The report also said that turnover rose by 1.5 pct to 16.532 billion euros in the first quarter of 2013.
There were 78 were profitable and 124 loss-making companies, from the selection of 202 in the report, 27 of the profitable ones raised their profits, 26 recorded a decline in profits and the remaining 25 returned to profitability. 32 from the loss-making companies raised their losses, 74 recorded lower losses and 18 turned loss-making.
Beta Securities said the first quarter results surpassed analysts' expectations. It added that the market seemed to have reached its bottom but lacked the necessary force to improve at a faster rate.
The companies METKA, PPC, OPAP, FFGroup reproted higher than expected results, helped by reductions in repeated costs. Eurobank Properties, Hellenic Exchanges, Plaisio Computers, Jumbo, Karelias, Sarantis and AVAX also reported stronger results in the first quarter.