Heracles Cement Q1 net profit rises, Greece

Heracles Cement Q1 net profit rises, Greece
31 May 2007

Lafarge’s Greek unit Heracles Cement said group net profit rose to EUR18.7m in the first quarter from EUR2.9m a year earlier on increased sales volumes of cement and ready-mix concrete in Greece.  
It said first-quarter group sales rose 16.4 per cent YoY to EUR164.3m, aided by good weather and higher export prices.  
It added first-quarter EBITDA came in at EUR37.7m against EUR14.6m a year ago on higher sales, increased export prices and control costs.  
Heracles Cement said these factors offset higher fuel costs, particularly that of residue from crude oil known as petcoke.  
Published under Cement News