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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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