News blog
Helesi
- BY: Andrew Hore |
- POSTED: 04/02/2011 |
Greece-based wheelie bins maker Helesi expects to report a fall in 2010 revenue from €73.9m to €50.5m.
The majority of that fall came in the first half but there was still a significant decline in the second half. EBITDA is expected to slump from €12.7m to €4m. Changes to local authorities in Europe have held back revenues.
There are some signs of improvement in the political situation in Greece.
Net debt has fallen from €73.9m to €63m over the six months to December 2010.
The trading statement was received positively and the share price rose 2p to 16p, which values Helesi at £6.37m.
The 2010 figures will be published in early April.
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