Heracles Cement Q1 net profit rises, Greece

Heracles Cement Q1 net profit rises, Greece
Published: 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.