1. Folli Follie, global high end retail, duty free, and department store
fell from 31 in 2014 to 18 now, PE=9 and div.=1.5%
this appears to be a well managed fashion house with a Nordstrom like department store in Greece.
Simply amazing they can grow retails sales in Greece in these last 3 years
to a record high!
more importantly this company is in asia and 50 other countries
this company gives me hope in GREK.
2. Jumbo , toy stores in greece, bulgaria, romania, cyprus
fell from 13.1 in 2014 down to 6 in september, bounced to 9.8 now
PE=12.7, no div.
Sales grew slightly, profits fell slightly for 1/2H 2015 but it’s highly profitable retailer at about 8-9% net margin.
this company also gives me hope in GREK.
3. OPAP, the Greek national lottery/bookie company recently privatized.
fell from 13 in 2014 to about 6.8 now,PE=9.2, Div.=10.06%
since this was a state run monopoly it probably was too lax and smug to improve efficiency. Now it’s in a law suit against the Greek gov. agency for unfair regulations and taxes.
from Casino News
On the heels of a nearly 8% dip in earnings for the third quarter and a new tax the company expects to lower revenues even more, Greek gambling monopoly OPAP will sue the government there for imposing new restrictions on its video lottery terminal (slots) business.
OPAP had earlier this year planned to roll out the first phase of a 16,500 machine launch but throttled the endeavor due to a surprise announcement from the government that restrictions would be set including the amount of time players could spend at the machines, loss limits, and smaller jackpots.
The company, partially owned by industry giant IGT (through their merger\acquisition by GTECH) filed papers last week in the London Court of International Arbitration seeking damages in excess of €1 billion. The company said that they felt the governments “abrupt and counterproductive interventions” in their business had left them no choice but to “pursue multiple appropriate legal actions.”
In response to the new five euro-cent tax on gambling set to take effect on January 1st, OPAP plans to shut down all 4,500 of their betting outlets for 24 hours to protest the levy.
not sure about future of OPAP
Typical of a dysfunctional government in midst of 5year austerity fever.