Vassiliko Cement Works posts €12.8m after tax profit in 2015

Vassiliko Cement Works Plc Co. said that it generated €12.8m in after-tax profit in 2015, compared with €5.2m in 2014, helped by an increase in export volume and export prices and measures to reduce expenses.

Overall revenue in 2015 rose 7 per cent to €90m while operating profit almost doubled to €17.8m, the company said.

The company, owned by the Cyprus Cement Plc Co, a member of the Galatariotis group, the Church of Cyprus and Italmed Cement Company, said that profit per share rose to €0.178 in 2015, from €0.072 in 2014.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.