Titan Cement revenues down by 19% in 2011

Greek firm Titan Cement saw a 19% drop in its revenues in 2011 to €1.09bn.

Further figures published by the company show a 23% fall in its EBITDA to €243million, and an 89% drop in its net profits compared with 2010.

Meanwhile, in the fourth quarter of 2011, Titan Cement's revenues fell by 22%, and its EBITDA by 58%. The company posted a net loss of €42million, from €5million profits in the corresponding three-month period of 2010.