First-half revenues drop at Titan Cement
First publishedon www.AggBusiness.com
Titan Cement of Greece has seen its revenues drop by 43.3% decrease in the first half of 2011 to €116.90 million, and a 39.7% drop in its EBITDA (earnings before interest, tax, depreciation and amorisation) interest to €28.3 million, while its net profits fell by 98% to €300,000 compared with the corresponding period in 2010.
At group level its revenues dropped by 18.2% to €557 million, while its EBITDA fell by 12.4% to €141.4 million and its net profits decreased by 65.7% to €23.4 million.
The decrease is mainly down to the current financial situation, which has had a negative affect within the construction industry.