Progress - 6month Results | Eurobank
Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

Progress - 6month Results

Greek Progress Fund posted a 30.8% increase in its net profit in H1 2004. Specifically, net profit climbed to € 3,539k compared to € 2,706k in H1 2003.
Greek Progress Fund posted a 30.8% increase in its net profit in H1 2004. Specifically, net profit climbed to € 3,539k compared to € 2,706k in H1 2003. Interest and dividends in H1 2004 soared to € 3,062k (+34%) from € 2,286k in H1 2003. Trading profit in H1 2004 settled to € 1,734k and remained steady. On 30/6/2004, the total NAV and the unrealised profit of the portfolio amounted to € 116.648k and  € 4,590k respectively.
On 30/6/2004 the share of the Fund was traded on the ASE at a discount of 7.13% (NAV per share € 3.62 vs market price € 3.36). From 31/12/2003 to 30/6/2004, the NAV per share increased (adjusted for dividend) by 7.28%. In the same period, the ASE General Index increased by 3.78%.
Net Assets breakdown on 30/6/2004 was as follows: 93.90% listed shares on ASE, 4.01% non listed shares, 0.54% fixed income securities, 0.25% mutual equity funds and the remaining balance, short-term deposits. The ten largest equity investments of the company, as a percentage of NAV, were as follows: EFG Eurobank Ergasias 8.61%, National Bank 8.35%, OPAP 7.43%, Hellenic Telecom. 7.28%, Alpha Bank 6.86%, Public Power 6.20%, Coca-Cola (HLB) 5.93%, Cosmote 5.87%, Follie 4.43% and Germanos 3.42%.