Greek Heracles Cement H1 group sales grow 0.5 per cent to EUR331m

Greek Heracles Cement H1 group sales grow 0.5 per cent to EUR331m
Published: 31 August 2007

Greece’s Heracles Cement said first half year group sales rose marginally to EUR331m, posting a 0.5 per cent increase over first half year 2006.  
 
Sales were boosted by the solid weather during the first quarter, but negatively impacted by the unfavourable weather in May and June and reduced imports during April and May on account of the closing of its Halkis plant, which resumed operation in June.  
 
EBITDA for the group increased by six per cent YoY to EUR68.7m EBITDA was negatively impacted by a EUR13.4m voluntary retirement program cost, booked in the first half of the year. 
 
The company added that net profits after taxes rose five per cent YoY to EUR28.2m on account of a reduction in fixed costs, despite higher fuel and power costs.