Cypriot Vassiliko Cement net profit rises

Cypriot Vassiliko Cement net profit rises
Published: 24 November 2006

Cypriot cement maker Vassiliko Cement Works said its consolidated net profit grew to C£5.7m (US$12.8m) in the first nine months of 2006 from C£4.8m (US$10.7m) a year earlier, on the back of higher sales.

The company’s cement and clinker sales increased to 1.084Mt for January to September 2006, boosted by higher exports, from 1.016Mt a year ago. Its cement exports in the period rose by 37.5 per cent to 220,000t, while domestic sales edged up 3.4 per cent to 862,000t.

Cement consumption in Cyprus totalled 1.186Mt in the first nine months of 2006, compared to 1.174Mt for the corresponding period of 2005.