Heracles Cement 9-month net profit down 39.1%

Heracles Cement 9-month net profit down 39.1%
Published: 30 November 2006

Greek cement producer Heracles, majority owned by Lafarge, said on Wednesday nine-month net profit after tax fell 39.1 per cent, due to a one-off gain last year. 
 
Heracles said net profit fell to EUR52.5m from EUR86.2m last year, when it had extraordinary income from the refund of EUR44.1m from the Greek state. 
 
Nine-month group revenues increased 14.5 per cent to EUR513.1m, due to increased volumes in the domestic sales and higher export prices, which offset a rise in fuel and raw material costs. 
 
Heracles operates three cement plants in Greece, with a total annual production of 9.6Mt.