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Annual Report on Greek Commerce |
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According to the Annual Report on Greek Commerce, that was presented on 11.4.2006, limited liability companies (SA and Ltd.) represented only 5.2% of the total number of commercial businesses in 2002. Out of 307,324 commercial businesses, 81.8% were personal and 12.2% were partnerships (source: the register of companies of the National Statistics Service of Greece). 71.2% of commercial businesses deals with wholesale commerce and realizes 62% of total sales.
The different path followed by limited liability companies as compared to the other legal forms of commercial businesses was maintained in 2004. 45.6% of personal businesses and partnerships claimed that in 2004 sales were stagnant, while 31.9% that their sales were reduced, a percentage which is much lower than the relevant figure for 2003. Only 22.5% of personal businesses and partnerships manifested growth in their revenues in 2004, whereas in 2003 the relevant percent stood at 30.2%. On the other hand, the percentage of businesses that did not conduct any investments during the year was reduced, from 65.6% in 2003 to 56.4% in 2004. The majority of this category of businesses continued to be “self-financed”, having no liabilities to banks.
As far as the limited liability companies is concerned (SA and Ltd.), their revenues were increased in 2004 by 11% as compared to 2003. Moreover, the rate of growth in revenues in 2004 was higher than in 2003. The gross profits of this category of businesses increased from 11,830 million euros in 2003 to 13,140 million euros in 2004, i.e. 11%. Net profits before taxes increased by 9.7% from 2,221 million euros in 2003 to 2,436 million euros in 2004. However, the rate of increase of both gross profits and net profits was reduced as compared to 2003. A significant investment activity was posted, with 55.1% of these companies having increased their investments. Finally, 37% of limited liability companies increased their liabilities to financial institutions.
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