**Cyprus Cement Reports Increased Profit of €5.4 Million in First Half of 2026**
The Cyprus Cement Public Company has announced a notable rise in its first-half profit, reaching €5.4 million, a significant increase from €4.64 million during the same period last year. This growth is largely attributed to a stronger performance from its associate company, Vassiliko Cement Works, as revealed in the company's latest financial results.
The financial report, which covers the six months ending June 30, 2026, indicates that basic earnings per share also improved, climbing to 3.94 cents from 3.38 cents in the previous year. The board of directors approved these results on September 28, as part of their interim condensed consolidated financial statements.
A key factor in this profit increase was Cyprus Cement's share of the profit from Vassiliko Cement Works, which amounted to €5.9 million, up from €4.9 million in the first half of 2025. This highlights the importance of the investment in Vassiliko Cement Works, which remains a primary contributor to Cyprus Cement’s overall earnings.
In addition to its investment in Vassiliko, Cyprus Cement reported a slight increase in its own income, which rose to €207,000 from €193,000 in the same period last year. This reflects the company’s broader strategy, which encompasses not only cement production but also the development and exploitation of land and strategic investments.
Looking ahead, Cyprus Cement has cautioned that its full-year results may experience fluctuations due to ongoing market uncertainties, making predictions for 2026 challenging. This cautious outlook follows a profitable year in 2025, where the company reported a net profit of €5.94 million, bolstered by a share of profit from Vassiliko that reached €8.99 million.
As Cyprus Cement navigates the complexities of the current market, its strategic investments and partnerships, particularly with Vassiliko Cement Works, will likely play a crucial role in shaping its financial performance in the coming months.