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Greek Mytilineos 9M profit rises, beats estimates

Wed Nov 11, 2009 10:23am EST

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ATHENS, Nov 11 (Reuters) - Greek metals and energy group Mytilineos (MYTr.AT) said on Wednesday nine-month net profit rose to 18.3 million euros ($27.42 million) from 15.3 million, as revenues from power plant building unit Metka accelerated.

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The results exceeded analysts' forecasts, who had expected earnings to fall to an average 13.7 million euros, according to a recent Reuters poll.

Earnings before interest, tax, depreciation and amortisation (EBITDA) also unexpectedly rose, to 89.4 million euros from 79.6 million in the same period a year earlier. Analysts had expected EBITDA to drop to 72.3 million euros. (Reporting by Harry Papachristou)

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