PPC reverses net losses in 2016 results

EconomyCorporates Tags: PPC, Results
Photo via https://flic.kr/p/bwZLC3
Photo via https://flic.kr/p/bwZLC3

Greece’s largest power company, the majority state-owned Public Power Corporation (PPC), has released its full-year financial report for 2016, showing that group turnover decreased by 8.3 percent to 5.25 billion euros compared to 5.73 billion in 2015.

The decline was attributed largely to a 549-million-euro decline in revenues from electricity sales due to a reduction in PPC’s average market share, a bonus scheme which rewards customers for timely bill payments and power thefts, a persistent problem ...

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