Greek Post Reports 2001 Profit

Greece’s Post Office (ELTA), currently being sold under the state’s privatisation programme, reported group pretax profit of 16.4 million euros in fiscal year 2001, up from 12.6 million in 2000. The results are not directly comparable with the previous year due to the first time consolidation of ELTA subsidiaries, including its courier service. Turnover reached 389 million euros from 353 million a year earlier, according to statements published in the Greek press on Thursday. Profit after tax and minorities amounted to 16.05 million euros. Greece owns 100 percent of ELTA. France’s La Poste has offered a total of 26 to 28 million euros for a 10 percent stake in ELTA, including a 50 percent stake in ELTA’s courier service. It was the only company to submit a binding offer for ELTA, part of the government’s privatisation programme.