3 June 1999: The board of Greek glassware distributor Yalco is to propose to the shareholders on 28 June a one-for-one scrip issue worth Dr 512.4 million. According to a recent report, the company is …
3 June 1999: The board of Greek glassware distributor Yalco is to propose to the shareholders on 28 June a one-for-one scrip issue worth Dr 512.4 million. According to a recent report, the company is keen to diversify into the retail sector through cooperation agreements. In the first quarter of the year, Yalco saw profits climb to Dr 130 million from Dr 55 million for the same time in 1998. Sales fell slightly to Dr 1.78 billion from Dr 1.8 billion. The rise in profits is attributed to reduced charges arising from the restructuring of debt. Yalco closed 1998 with sales of Dr 7.2 billion and profits of Dr 450 million. Forecasts for this year point to profits of Dr 700 million on turnover of between Dr 8 billion and Dr 9 billion.