Vassiliko Cement posts €12m after tax profit in H1

Vassiliko Cement Works Plc Co Ltd said its after tax profit in the first six months of the year more than doubled to €11.9m mainly on increased revenue from exports and domestic sales.

Vassiliko’s turnover in January to June rose to €49m, compared to €45.2m in the respective period of 2015, the company said in a statement on the Cyprus Stock Exchange website on Friday.

The cement producer, which will pay its shareholders a €0.08 interim dividend, said that a combination of increased demand and reduced energy cost are “positive indications” for the company’s prospects this year.

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.