Athens News Agency: News in English, 00-11-29

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Basketball-Greece-Win

[02] Greece - Eurofighter - Deal

[03] Thessaloniki - possible BSE cure

[04] Greece-EU-Balkan projects

[05] Frigoglass Group-results

[06] Delta Holdings Group-results

[07] SATO SA-results

[08] ASE-close

[09] Minoan Lines-ASE-trading suspension

[10] Agricultural Life-results

[11] Cosmote-Dow Jones STOXX index

[12] Fourlis-results

[13] Greece-foreign exchange

[01] Basketball-Greece-Win

The Greek national basketball team beat Belarus 86-78 in a match played in Minsk on Wednesday for the Eurobasket 2001 semifinal phase. Greece has won all eight matches played for Group two and heads the group with two matches left to conclude the phase.

[02] Greece - Eurofighter - Deal

The government on Wednesday announced that a celebrated deal foreseeing Greeces participation in the Eurofighter consortium -- the four-nation partnership designing and manufacturing the ?Typhoon? warplane -- would be signed in about 10 days.

Speaking before a relevant Parliament committee, National Defence Minister Akis Tsohatzopoulos reiterated that Greeces air force will also proceed with the purchase of 60 US-made F-16s (Block +50) and around 25 French-made ?Mirage? 2000-5s, along with an unspecified number of the fourth-generation ?Typhoons?.

The minister told deputies that Greece will ?participate on an equal footing in the consortium? with a ?13 percent stake?.

[03] Thessaloniki - possible BSE cure

A researcher at a Thessaloniki University pharmacology lab said on Wednesday that his work could well contribute to a cure for spongiform encephalopathy in humans, beef and sheep by the middle of the next decade but rejected press reports that he had found a 'miracle cure' for the disease.

At an emergency press conference in Thessaloniki, Assistant Pharmacology Professor Theodoros Sklaviadis confirmed that he was working on the problem but said that a report by the newspaper 'Ethnos' that he had found 'the drug that cures 'mad cow' disease," was an exaggeration.

[04] Greece-EU-Balkan projects

Greece has submitted for EU approval and co-funding joint programme papers between Greece-Bulgaria, Greece-FYROM, Greece-Cyprus and Greece-Albania, in the framework of the EU's Interreg programme.

The total budget of these projects reaches 173 billion drachmas, of which 88.4 billion are covering the cross-border cooperation between Greece and Bulgaria.

National Economy Deputy Minister Christos Pahtas said that Greece could successfully promote projects and actions for economic and social cohesion and for establishing peace in the sensitive Balkan region.

[05] Frigoglass Group-results

Frigoglass Group on Wednesday announced that its consolidated sales totalled 69.4 billion drachmas in the first nine month of 2000, up 48 percent from the same period last year, and that EBITDA (profits before taxes, interest and amortisation) totalled 13 billion drachmas, up 69 percent.

Group pre-tax profits rose to 3.8 billion drachmas.

[06] Delta Holdings Group-results

Delta Holdings Group on Wednesday announced a 66.8 percent jump in its nine-month operating profits to 6.596 billion drachmas, from 3.953 billion the same period last year.

Group sales rose 18.18 percent to 115.517 billion from 97.742 billion drachmas over the same period.

EBITDA (earnings befoe taxes, interest and amortisation) rose by 23.4 percent to 20.484 billion drachmas, up from 16.596 billion in the January-September period in 1999.

Pre-tax profits totalled 6.468 billion drachmas from 5.737 billion last year, up 12.7 percent.

The company expects its consolidated sales to exceed 150 billion drachmas and pre-tax and pre-minorities' profits to exceed 15 billion drachmas this year.

[07] SATO SA-results

SATO SA on Wednesday announced a 14 percent rise in its nine-month turnover to 9.322 billion drachmas, from 8.178 billion the same period in 1999.

Group turnover jumped 31.6 percent to 9.842 billion, from 8.233 billion, over the same period.

A company statement attributed the improved results to a positive impact from new activities, such as the creation of Bo Concept SA, a furniture company, in cooperation with Denka Holdings, and the takeover of German Grammer.

Parent pre-tax profits, however, fell by 17 percent, reflecting increased spending on takeover and merger activities.

[08] ASE-close

The tragic news of the suicide of Minoan Flying Dolphins' vice-president and chairman of the Greek Union of Passenger Shipping Owners, Pantelis Sfinias, undermined sentiment on the Athens Stock Exchange on Wednesday and halted an effort to push the market higher.

The general index was extremely nervous, falling by 1.50 percent early in the session and rising by 1.42 percent later in the session.

The index finally ended at 3,230.94 points, up 0.55 percent. Turnover was an improved 61.64 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.32 percent higher at 1,845.36 points, and the FTSE/ASE 40 index rose 0.15 percent to 382.25 points.

The parallel market index for smaller capitalisation stocks ended 0.84 percent higher at 325.34 points.

[09] Minoan Lines-ASE-trading suspension

Greece's Capital Markets' Commission on Wednesday decided a temporary suspension of Minoan Lines' shares trading on the Athens Stock Exchange until Friday, 1 December.

The move was aimed to facilitate the company to fully inform the market and investors over its moves following the tragic death of Minoan Lines' vice-president and Minoan Flying Dolphins' chief executive, Pantelis Sfinias.

It is the first time in the history of the market that ASE authorities decided to suspend trading of a listed company's share during the session.

[10] Agricultural Life-results

Agricultural Life, a member of Agricultural Bank of Greece, on Wednesday reported a 2.5 percent rise in its nine-month profits to 2.035 billion drachmas, from 1.987 billion the same period last year.

The company also announced a 6.4 percent portfolio growth to 12.270 billion drachmas and a 16.3 percent increase in premium production to 2.050 billion drachmas.

A company statement said that Greece's Capital Markets' Commission approved the purchase of a 40 percent equity stake in Vottas International Securities, a company owned by Piraeus Bank Group. Agricultural Life is seeking to expand its activities in Germany and Romania.

[11] Cosmote-Dow Jones STOXX index

Cosmote, Greece's second largest mobile telephony operator, will enter the Dow Jones STOXX Total Market Index from December 18, a move justifying the company's efforts to promote its share in international stock market indices.

The decision by STOXX Limited's supervisory board was taken at a meeting in November 14, 2000. The board decided that Cosmote fulfilled all criteria to enter the Dow Jones STOXX Total Market Index, which covers 95 percent of listed companies in Europe and includes around 1,150 shares.

[12] Fourlis-results

Fourlis Group on Wednesday announced a 55 percent increase in its nine-month sales to 126 billion drachmas, from 81 billion the same period in 1999.

Group pre-tax and minority rights' profits totalled 9.4 billion drachmas in the January-September period from 3.0 billion last year, up a spectacular 210 percent.

Pre-tax and after minority rights' profits totalled 4.7 billion drachmas, up 74 percent from the same period in 1999.

[13] Greece-foreign exchange

The drachma continued recovering against the US dollar in the domestic foreign exchange market following a decline in the US currency in international markets on Wednesday.

The Greek currency rose to 394.590 drachmas per dollar at the day's fixing, up from 399.920 on Tuesday.

The drachma moved closer to its central parity against the euro ata 340.480 drachmas.

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