GREECE: Nikas meat processor anticipates 20% profit rise

Greek meat processor Nikas has revealed that it will post an estimated 20% increase in its 2001 pre-tax profit, year-on-year. Last year, the company saw turnover increase 10% while the first nine months of 2001 produced a 27% drop in consolidated pre-tax profit. The three quarters also saw consolidated sales grow by 6.4% year-on-year to €71m (US$61m).

January 31, 2002

Greek meat processor Nikas has revealed that it will post an estimated 20% increase in its 2001 pre-tax profit, year-on-year.

Last year, the company saw turnover increase 10% while the first nine months of 2001 produced a 27% drop in consolidated pre-tax profit. The three quarters also saw consolidated sales grow by 6.4% year-on-year to €71m (US$61m).

In order to boost its subsidiaries’ performance over the next two years, Nikas will invest a total of €13.2m, according to local newspaper Express.