Greece’s leading engineering group Mytilineos Holdings reported on Wednesday a drop in its nine-months net profits, due to negative base effect compared with the respective period of 2005.
The company said that its net profits for the first nine-months of the year were EUR103.1 million versus EUR167.4 million in 2005.
Excluding extraordinary items, the nine-month profitability of the group would have risen by 176.6% the company said.
Revenues were up 20% to EUR649 million versus EUR542 million last year.
Mytilineos seeks a leading role in the newly-deregulated energy Greek market, as it has acquired total licenses of 1,500 MW of which 440 MW licenses for renewable energy sources projects.