A Zorpas & Sons Plc posted a weak set of results with first quarter 2008 net profit declining by 65.9% year-on-year to EUR308.000 on the back of higher fixed costs related with the new production line in Larnaca, a higher labour costs base vs. 1Q07, higher raw material and energy costs (not all price increases
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Marfin Popular Bank Pcl (MPB) reported a 38% year-on-year decline in first quarter profit to EUR 104.4 mln compared to EUR 168.96 mln reported in the first quarter of 2007 in line with expectations. A poll conducted by the Financial Mirror among analysts had forecast MPB profits at EUR 103.80 mln. Net Interest Margin (NIM)
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Marfin Popular Bank Pcl (MPB) reported a 38% year-on-year decline in first quarter profit to EUR 104.4 mln compared to EUR 168.96 mln reported in the first quarter of 2007 in line with expectations. A poll conducted by the Financial Mirror among analysts had forecast MPB profits at EUR 103.80 mln. Net Interest Margin (NIM)
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Bank of Cyprus Group beat market expectations by delivering much higher than expected growth in its first quarter profitability despite the negative global environment. The investments of the Group in the new markets are expected to yield significant future benefits in the coming years, in terms of business growth as well as profitability. Specifically, for
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The Board of Directors of Bank of Cyprus Pcl (BOCY) decided to unanimously accept the resignation of former finance minister Michalis Sarris from his position as member of the Board of Directors of Bank of Cyprus.
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Greece's largest lender National Bank reported first-quarter net profit grew 25 percent to 423 million euros ($666 million), excluding a one-off tax settlement, helped by growth in its core banking business in all its regions. Net of the 22 million euro one-off settlement in Turkey, results were in line with forecasts. Analysts' average estimate for
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Robust lending growth at home and in southeast Europe boosted Alpha Bank's first-quarter profit with management confident Greece's third-largest lender is on track to meet key targets. The bank said group net profit grew by a better than expected 18 percent to 205 million euros ($322 million). Analysts in a recent Reuters poll had on
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Cyprus's Central Bank has raised the loan threshold for mortgages on holiday or second homes, imposed last year to pre-empt excessive exposure of commercial banks to the sector. The move will please property developers who complained restrictions imposed last year stunted growth in the market, but which the Central Bank is convinced was instrumental in
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Woolworth (Cyprus) Properties Plc (FWW.CY) issued its 1Q08 results posting a net profit figure of EUR 1.2mln compared to a net profit figure of EUR 3.2mln in 1Q07. EPS was reported at EUR 0.011. The decline in the Company’s net profit is attributed to a non-recurring profit in 1Q07 from the sale of financial assets
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Marfin Egnatia have kept their price target on the share price of Louis Pcl (LUI.CY) unchanged at EUR 0.72 per share following the release of the first quarter results. This implies a 33% upside potential from the stock’s current price. Louis Plc released its 1Q08 results reporting an improved bottom line figure with loss after
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