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Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian banking and investment firm BGEO Group PLC said Wednesday it increased its pretax profit and revenue in the first quarter of 2017. FTSE 250-listed BGEO reported a pretax profit of GEL113.3 million for the three months to March 31, or approximately GBP35.8 million. This was up 17% from GEL97.0 …

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Georgia’s Revenues from Foreign Tourism Totaled $481 million

In the fourth quarter of 2016 Georgia’s revenues from foreign tourism constituted 481 million USD, up 12.5% year on year (+54 million USD). According to National Tourism Administration, in 2016 Georgia’s total revenues from foreign tourism exceeded 2.2 billion USD, up 11.9% year on year (+230 million USD). Tourism sector’s …

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Tourism Revenues Exceed Two Billion USD

Fitch georgia

The numbers of tourists in Georgia have increased by half a million, and tourism revenues exceed two billion USD. The Prime Minister of Georgia commented on the positive tourism statistics at today’s Government meeting. According to Giorgi Kvirikashvili, it is truly commendable that, in 2016, over 6,350,000 international guests visited …

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Revenues from Tourism Sector Keeps Growing

The pleasant tendency of the past years goes on in 2016 too and Georgia is hosting more and more foreign tourists every year. Tourism is one of the fields, if not only one, that has been growing over the past 10 years in constant regime. This year the tourism inflows …

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Georgia’s Commercial Banks’ Profits Shrink

The bank sector’s profits in February 2016 marked 16 million GEL, down by about 300% year on year. The figure has increased by 18% as compared to February 2014. As of March 1, 2016, six commercial banks have ended the reporting period in losses (∑6.1million). The Georgian bank sector currently …

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State Budget Revenues Shrink in January-February

Lari

In January-February 2016 the state budget revenues marked 1 178 million GEL, down 163 million GEL (-12%) compared to the same period of 2015. It is worth noting that, compared to the 1Q15 plan, the first quarter of 2016 is expected to receive 280 million GEL less revenues. Tax revenues …

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Georgian Population Spends 44% of Incomes on Food

shopping

The averaged bill amount at the trade networks are declining. This signifies the GEL depreciation has made the consumers to cut daily expenses on essentials compared to the previous years. The averaged bill has shrunk by about 10% in 2015 compared to 2014. The quantity of consumers has not diminished …

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Revenues Increased by 38% to the Banking Sector

Banking sector’s revenues of 11 months exceed 3,1 billion GEL, while 1,8 billion (58%) is gained from loans. Banks’ revenues are grown by 38% year-over-year (01.12.14 – 2,288), which exceeds by 4,9% (more 8 times) comparing to the previous year’s growth year-over-year. The expenditures total to 2,6 billion GEL through …

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Grape Harvest 2015 is Over, What are the Outcomes?

Harvest

The 2015 grape harvest is over and Georgia has enjoyed a record number of harvested wine grapes. A total of 143,167 tonnes of grapes were processed in Georgia’s nine wine-producing villages. By selling this yield, farmers generated a collective income of more than 102 million GEL. About 18,000 farmers sold their …

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Samsung Surprises withThird-Quarter Profit Forecast

samsung

South Korean tech giant Samsung Electronics expects its third-quarter operating profit to beat market forecasts on the back of strong semiconductor sales. It forecasts that operating profit jumped nearly 80% from a year ago to 7.3 trillion won ($6.29bn; £4.13bn). The guidance figures for the three months to September exceeded …

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Georgia’s Exports Reach $1,459m in Eight Months of 2015

In January-August of 2015 external merchandise trade (excluding non-organized trade) in Georgia amounted to USD 6395 million, 14 percent decreased year-on-year. The exports equaled USD 1459 million (24 percent lower), while the imports stood at USD 4937 million (10 percent lower). The negative trade balance was USD 3478 million in …

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