Vassiliko Cement Works Public Co (VCWP), a subsidiary of Cyprus Cement Public Company (CCPC), has seen a recent increase in its exports to neighbouring countries and a reduction in its cost of production. However, the group realised a slight reduction in its profits compared to last year’s respective period.

CCPC presented its interim management statement for the 1 July-20 November period. In its statement the company reaffirms that, as with any other company operating in Cyprus, the future performance depends heavily on the macroeconomic performance of the Cyprus economy overall. The statement adds that the markets’ fluctuations, both domestically and globally, create an unstable financial environment, making it difficult to predict the future performance of any company.