The crisis in Greece is of service to pasta
24 December 20132 min reading
Consumers’ turning to the cheaper nutrition due to the economic crisis and the increase in the exports of the companies in the sector in Greece increased pasta production.
According to a report from Greece; consumers’ turning to economic foods increased the pasta production in Greece that goes through hard times due to economic crisis. In the report which was prepared by taking the data of The Hellenic Statistical Authority (ELSTAT) into consideration; it is stated that pasta production in Greece increased 4,4% in January-September 2013 period compared to the previous year.
The fact that, the companies producing pasta in the country provide reasonable prices in order to keep demand high, increased pasta consumption. According to the annual results of the sector’s five major companies; while there is increase in the total sales of the companies in 2012, a decrease in the profits was observed due to the low prices.
While the total income of the 5 companies was 182,2 million Euros in 2012, the incomes were calculated as 176,6 million Euros in 2011. In other words, the incomes increased 3% in terms of ratio and 5,6 million Euros in terms of value. The gross profit decreased 5% compared to 2011 and it receded to 51,2 million Euros from 54,02 million Euros.
While the net profit of the pasta producers was calculated as 5,67 million Euros (3,1% of the sales) together with the payment of the taxes, this figure was 7,32 million Euros (4,1% of the sales) in 2011.
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