Titan expected 1H rise

Greece’s Titan Cement is expected to announce a rise in first half year EBITDA of 2.2%under IFRS next Friday on the back of growth from its US and Balkan operations, offsetting weak post-Olympic sales in Greece.

EBITDA is seen rising to EUR147.4m from EUR144.2m same time last year, with forecasts ranging between EUR142.1-153.2m, according to three leading analysts. However, net profit is expected to edge lower to between EUR78.0-79m with forecasts ranging between EUR70.2-81.5m. Sales are expected to rise 7.3% to EUR565m from EUR 526.7m, with a strong contribution from Egyptian operations and its strengthening currency.