SATO improved its results and showed profits

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After many years of losses, the office furniture company SATO is back to profitability. Successfully implementing a restructuring-consolidation plan and increasing its sales, it showed a positive financial result in the 9 months.

The total sales of the Group amounted to 13.6 million euros, compared to 12.2 million.in the corresponding period last year.

The group’s gross profit amounted to 5.8 million euros, from 4.8 million last year and operating profit to 1.2 million euros, from 0.8 million last year.

The pure result 9 months after taxes and minority rights were set at profits 331 thousand euros, against losses of 765 thousand last year.

The management of the company is now awaiting the decision of the Athens Multi-Member Court of First Instance, for the approval of the agreement with the creditors and its inclusion in a consolidation regime.

In a statement, it points out that the prolonged duration of the pandemic and the possible imposition of further restrictive measures for its spread, may have substantial negative consequences for the operation of key sectors of the Greek economy, including the office and home furniture sector.

So far, revenue from sales of office and home furniture has not been adversely affected by the pandemic and the restrictive measures taken.

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