Greek enterprises reported higher sales and a significant increase in profitability in 2017, while positive signs are also evident in 2018, ICAP said in a survey based on a sample of 13,154 enterprises.
The survey said that accumulated turnover grew around 10 pct in 2017, while operating earnings rose around 17 pct compared with the previous year. Net pre-tax earnings totaled 4.67 billion euros in 2017, up 14 pct from 2016. ICAP said that 153 Greek-listed enterprises -excluding banks – recorded a 9.0 pct increase in turnover and a 25 pct rise in profits in the first half of 2018.
Nikitas Konstantellos, chairman and CEO of ICAP Group, commenting on the survey said that “after a long-term recession period, the Greek economy recorded a slight recovery in 2017, with the country’s GDP growing by 1.5 pct compared with the previous year. It is encouraging the fact that this trend continued in 2018 at a slightly increased rate. This development will have a positive effect on Greek business activity”.