18 July 2018

3alpha reports 1,6% jump in turnover

07 November 17 - RE+D Magazine
3alpha reports 1,6% jump in turnover



Public entity - GREECE


Agency - GREECE



IBI Group

Consultant - GREECE


Investment - GREECE


Aristotelis Karytinos

CEO of NBG Pangaea REIC NBG Pangaea REIC

Antulio Richetta

Director IBI Group
3alpha - Karageorgiou Bros AEBE, a Greek processor and packager of pulses and rice, said its turnover totaled 26.193 million euros in 2016, up 1.6 pct from the previous year.


In an announcement, the company said 2016 was another year marked by adverse conditions in the economy and the market, in which the main characteristics were declining demand, negative consumer and investment psychology and very high unemployment rates, adding that the company managed to strengthen its financial condition within this adverse environment.

3alpha said it purchased, processed and packaged 5,000 tons of pulses and rice from the domestic farm produce and managed to expand its market shares.

The company exports its products to 25 countries around the world.

Gross earnings were 6.147 million euros, up 20.8 pct from 2015, while the gross profit margin grew to 23.5 pct from 19.7 pct over the same periods, respectively. Operating expenses totaled 4.070 million euros in 2016 from 4.025 million in 2015.

Pre-tax earnings totaled 1.830 million euros in 2016, from 387,000 euros in 2015, while after-tax earnings totaled 1.241 million from 223,000 euros, respectively.

3alpha said its debt fell 3.5 pct while its cash reserves more than tripled in 2016.

The company invested 2.0 million euros in the 2012-2016 period, and plans to invest another 2.0 million in the 2017-2018 period.


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