Titan Cement said in a presentation to brokers that it sees growth in local demand for the rest of the year, but at a slower pace than that in the first quarter. However it expects very strong demand from US operations.
Of its operations in the Balkans, it said Bulgaria looks most promising, and it expects a continued recovery in Egypt.
Regarding potential acquisitions, Titan said it would be seeking a 15 per cent rate of investment return. This is not considered easy to achieve given high international valuations for cement companies.