Frigoglass

Greek stocks returned to gains Wednesday after Tuesday's slight correction.

The Athens Stock Exchange general index closed at 1,432.53 points, up 0.49%, having risen as high as 1,434.58 (0.64%).

Turnover was €70.15 million, with 14,581,437 shares changing hands.

Blue chips gained 0.60% and mid-caps 0.16%.

Frigoglass on Monday announced it has reached a compromise agreement with a bondholders' commission on the restructuring and recapitalization of the group.

Freezer and glass bottle and jar manufacturer Frigoglass saw its sales rise 14.2 percent in the second quarter of 2019, to 162.69 million, up from 142.44 million in the same period in 2018.
The growth allowed it to get into the black, with a net profit of 8.77 million, compared to an 836,000-euro loss in the same period last year.

Frigoglass said on Monday its sales increased 21.8 percent to 248.113 million euros in the first half of 2018, from 203.775 million in the same period last year.

The chief financial officer of Greek refrigerator maker Frigoglass will take over as the new chief executive of the company after Torsten Tuerling resigned for personal reasons, Frigoglass said in a statement on Tuesday.

Greek refrigerator maker Frigoglass reported a smaller loss in the fourth quarter compared to the same period a year earlier on Thursday, helped by cost savings and lower input costs.

Greek refrigerator maker Frigoglass reported a 32 percent deeper third-quarter loss on Monday, hurt by higher taxes and lower spending from brewers in Russia.

The company, which sells coolers to beverage companies including Coca-Cola HBC and brewers in Europe, said its third-quarter net loss widened to 10.8 million euros from 8.2 million euros in the same period last year.

Greek stocks staged an impressive rebound on Tuesday, with the Athens benchmark adding almost 5 percent and all blue chips securing healthy gains on the day that more than 1.136 billion new National Bank shares were introduced.

The relative easing of investor concerns after Sunday’s rather inconclusive local election results gave way to another selling spree on Monday that forced losses of almost 2 percent on the local market’s benchmark, with turnover remaining high.