Greece’s Titan Cement FY net likely to rise

Greece’s Titan Cement FY net likely to rise
Published: 20 February 2006

Greeces Titan Cement is expected Feb 23, to announce a 14 per cent hike in 2005 full year group net profits of Euro 202m, analysts said.   In a consensus poll taken by Euro2day.gr Newswire of five leading analysts, full year group net profits are seen coming in between Euro 199.6-204.4m from Euro 177m last year. Most analysts said Titan will benefit from the continuing strong performance of its operations in the US market, where demand and prices are both higher.  
 
Full year EBITDA is forecast to rise 16.9 per cent to a consensus of Euro 372.8m, with estimates ranging between Euro 365-380.5m on the back of very profitable Greek cement operations which analysts believe have rebounded after a post Olympic Games slowdown. Last year, EBITDA came in at Euro 318.9m.