In Brief

January budget revenues up 6.3 percent year-on-year, slightly ahead of target Ordinary budget revenues grew 6.3 percent year-on-year in January 2002, versus an annual target of 6.1 percent, the Finance Ministry announced yesterday. The ministry said that revenues increased by 198.17 million euros on an annual basis to 3.34 billion euros. Income tax revenues grew 80.88 million euros to 2.3 billion, or 4.1 percent. Revenues from value added tax grew 13.2 percent, while customs revenues dropped 0.77 percent. Pending cases from earlier years which had been settled were an important source of revenue. Revenues from this source grew 229.7 percent. Balkan aid package passes first hurdle The Parliament’s Defense and External Affairs Committee approved an aid package worth 550 million euros to Balkan countries. Deputies added Bosnia-Herzegovina to the original list of recipients (Albania, Bulgaria, the Former Yugoslav Republic of Macedonia, Romania, Yugoslavia) but refused a proposal to channel money to private-sector firms. Conservative deputy Yiannis Varvitsiotis demanded that non-governmental organizations (NGOs) should not be aid recipients, while Stelios Papathemelis of the ruling Socialist party argued that the money would be better spent toward the repatriation of Balkan economic migrants to Greece, both legal and illegal. Railway works The government approved a sum of 146.3 million euros to be used from Public Investment Program funds toward improving the country’s railway network. Most of the money will go toward building the Athens suburban railway, which must be ready by the 2004 Athens Olympics. Losing Lambrakis Lambrakis Press, Greece’s largest publisher, announced yesterday it posted a 25-million-euro loss in the year 2001, versus a net profit of 36.7 million euros a year earlier. Lambrakis said sales for the group fell 25.3 percent to 268.9 million euros, from 360 million a year earlier. On a parent company level, Lambrakis reported a 17-million-euro loss versus a 23.8 million euro pretax profit gain in 2000. Parent company turnover fell to 104.5 million euros, down 2.88 percent, from 107.6 million euros a year ago. Its shares on the Athens bourse fell 6.77 percent to 3.58 euros yesterday. (Reuters) Infoquest IT firm Infoquest announced yesterday its consolidated pretax profit for 2001 totaled 10.5 million euros, with sales reaching 420.7 million euros. Results are not comparable to the previous year due to the non-consolidation of several companies, a company spokesman said. On a parent level, Infoquest reported sales of 293.7 million euros and pretax profits of 11.4 million euros, in line with previous management estimates. (Reuters) Mobiltel Bulgaria’s telecommunications regulatory body announced yesterday it had allowed an Austrian consortium to acquire the biggest local GSM operator, Mobiltel. The Commission for Communications Regulation said it allowed the transfer of 100 percent of Mobiltel’s capital to Vienna-based Mobiltel Holding GmbH from Rotterdam-based AMS Telecommunication Holding BV, formerly LL Telecommunications Holding BV. The Austrian owners had already taken control over Mobiltel. (Reuters) Hellenic Exchanges Hellenic Exchanges announced yesterday group pretax profit after minorities fell 71 percent year-on-year in 2001 to 25.57 million euros as group turnover dropped 49 percent to 78.89 million euros. Hellenic Exchanges, the holding company that owns the Athens stock and derivatives exchanges, said it would propose a 2001 dividend per share of 0.18 euros. It paid an interim dividend of 0.19 euros to shareholders on December 14, 2000. Turnover on the Athens bourse fell 58-percent last year as the average capitalization of listed companies dropped 32 percent year-on-year. Hellenic Exchanges shares closed down 0.72 percent at 5.54 euros yesterday. (Reuters) ETBA posts loss ETBA Bank reported yesterday a 5.5-million-euro loss in 2001 versus a pretax profit of 88.3 million euros in the previous year. The bank said in a statement that a reduction in revenues from stock market transactions, underwriting commissions and lower dividends from its stock portfolio affected profitability. Its shares lost 2.50 percent to 3.90 euros yesterday. (Reuters) Intralot Gaming systems operator Intralot announced yesterday group pretax profit rose 50 percent year-on-year to 62.4 million euros from 41.5 million a year earlier. Intralot said in a statement turnover for the group came to 282 million euros, up 16 percent year-on-year. On a parent level, Intralot saw pretax profits more than double in the year to 46.2 million euros from 22.3 million in 2000. Sales grew 96 percent to 59.5 million euros. The company’s shares on the Athens bourse fell 1.27 percent to end at 17.10 euros yesterday. (Reuters) Forthnet Internet service provider Forthnet announced yesterday its consolidated pretax profits fell 10.8 percent to 1 million euros, hit by higher depreciation costs as it moves into telecoms services. The company said in a statement that depreciation rose 22.7 percent from 2.7 million euros in 2000 to 3.4 million euros in 2001 on a group level. Turnover for the company rose 14.6 percent to 22 million euros while it said that earnings before tax, interest, depreciation and amortization (EBITDA) rose 32.5 percent to 3.5 million euros.(Reuters)