Greece: Titan Cement has reported net losses after tax of Euro16.3m in the first quarter of 2020, up by 122% year-on-year from Euro7.34m in the first quarter of 2019. Revenue also increased, by 6.1% year-on-year to Euro385m from Euro363m. Titan Cement said, “Since mid-March 2020 the outbreak of the coronavirus had a significant, although unevenly distributed, impact on demand for our products. The early impact of the pandemic on our sector was less severe than what was initially feared. Construction has been deemed to be an essential service in most markets and all our cement plants continued their operations, adjusting their production to satisfy the current level of demand.”
Titan Cement shares first quarter 2020 results
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