Titan Group reports higher sales and profits in Jan-Sept
Titan Group on Friday reported higher sales and profits in the January-September period this year, reflecting a recovery in the construction market in the US.
Consolidated turnover totaled 1.029 billion euros, up 18.9 pct compared with the same period last eyar, while EBITDA grew 12.6 pct to 165.2 million euros. Net after minorities and tax provisions totaled 36.2 million euros in the nine-month period, up from 30.5 million in the corresponding period in 2014.
In the third quarter of 2015, improving results in the US counterbalanced losses suffered in the other three geographical regions where the Group has established activities. Turnover grew 17.1 pct to 356.7 million euros, EBITDA grew 3.8 pct to 59.9 million, while net after minorities and tax provision earnings fell to 12 million euros, from 27.6 million in the third quarter 2014.
Parent turnover rose 3.8 pct to 204.8 million euros in the nine-month period, while operating earnings grew to 31.5 million euros from 22.6 million in 2014. Net profits fell to 400,000 euros in the January-September period, from net profits of 6.1 million euros in 2014.
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