Heracles pretax profit up

Heracles pretax profit up
Published: 25 February 2004

Greek cement producer Heracles said on Tuesday 2003 group pretax profit rose 64 per cent to 117 million euros, helped by strong sales in the domestic market related to Olympic Games projects.  Group sales increased 8.7 per cent to 607 million euros, lifting operating income 18.4 per cent to 122.7 million euros, the company said in a statement. It is majority-owned by France’s Lafarge.  Heracles shares closed 2.19 per cent down at 8.04 euros versus a 1.76 per cent slide in the broader market . The company reported the results after the market close.