Metka Greece profits to rise, Syria impact

Metka is scheduled to announce its 2Q results Wednesday with analysts expecting another good performance driven by foreign projects, especially in Turkey and Syria.
Given that 2011 was a record year for Metka, the comparison with the same quarter last year is unfavourable mainly due to the completion of domestic projects.
“We forecast group sales of EUR 170 mln (-46% YoY), EBITDA of 27.5 mln, down 40.5% YoY and net income settling at 19.2 mln (-40% YoY). The focus is expected to be on the current situation of the project in Syria and the status of new projects,” said Vassilis Roumantzis, analyst at the Investment Bank of Greece, a Laiki Group subsidiary.