Greece’s Titan Cement nine-months net seen rising 12% on strong US ops

Greece’s Titan Cement nine-months net seen rising 12% on strong US ops
Published: 21 November 2005

Greece’s Titan Cement will see its 9-months group net profit rise 12.1 per cent YoY to EUR142.7m when it announces its results under IFRS on Nov 25, analysts said.  
 
A continuing strong performance in the US market and improving sales in Greece will be the main drivers behind growth, they added.  
 
In a consensus poll taken by Euro2day.gr of three leading local analysts, nine-month group net profits are seen coming in between a forecast range of EUR138-147.3m, from EUR127.2m the same time last year.   Nine month EBITDA is forecast to rise 13.8 per cent YoY to a consensus midpoint of EUR276.7m with forecasts ranging between 271-282.3 mln eur, from 243 mln eur a year earlier.  
 
Meanwhile, group sales are seen rising 14.6 per cent YoY to a forecast midpoint of 950.4 mln eur, with forecasts ranging between EUR920-980.7m, from last years 9-months result of EUR829.4m.