Greece: Titan Group’s turnover rose by 10% to Euro785m in the first half of 2019 from Euro713m in the same period in 2018. The building materials producer attributed this to improving markets in Greece and Southeastern Europe, as well as continued ‘strong’ performance in the US.
Its earnings before interest, taxation, depreciation and amortisation (EBITDA) remained stable at Euro122m but its net profit fell by 46% to Euro13.3m from Euro24.8m. In its Eastern Mediterranean region the group described market conditions as ‘challenging’ with falling demand in Egypt and Turkey. In Brazil it said that cement sales volumes were stable but that revenue had risen due to an improving market.
