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| Greece's largest cement producer announces 1Q 2007 results Heracles G.C.C. Group of Companies, a member of Lafarge, announced sales of 164.3 million euros for the first quarter of 2007, increased by 16.4% in relation to the corresponding period of 2006. Respectively, company sales for the first quarter 2007 amounted to 146.2 million euros, increased by 15.1% as compared to the corresponding period of 2006. The increase of turnover mainly derives from the increase in sales volumes of cement and ready-mix concrete in the domestic market, which is mainly attributed to the favorable weather conditions during the last winter, as well as to the achievement of higher prices in cement export markets. The group's gross profit margin was formed at 25.5% in the first quarter of 2007 as opposed to 14.2% in 2006. The group's profits before taxes, interest and depreciation (EDITDA) of the first quarter 2007 amounted to 37.7 million euros as compared to 14.6 million euros in the corresponding period of 2006. This increase is mainly due to the course of sales in the domestic market, the higher export prices as well as the improvement in the performance of main operating factors of the Company and the containment of its general and administration expenses, which offset the increased fuel prices, mainly petcoke. The group's net profits before taxes for the first quarter amounted to 27 million euros as opposed to 3.6 million euros in the corresponding period of 2006. Respectively, the Group�s net profits after taxes for the same period amounted to 18.7 million euros as opposed to 2.9 million euros in the same period of 2006. write your comments about the article :: © 2007 Construction News :: home page |