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Greece's Titan Cement Q2 net profit falls 48 pct

Thu Aug 27, 2009 10:41am EDT

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ATHENS, Aug 27 (Reuters) - Titan, Greece's biggest cement producer, said on Thursday that second-quarter net profit fell 48 percent to 38.1 million euros ($54.24 million) due to slower construction activity in the U.S. and in southeast Europe.

Titan's (TTNr.AT) net profit was below analysts' average forecast of 41.7 million euros in a Reuters poll.

Sales declined 12 percent to 375.7 million euros, also below analysts' average forecast of 385 million euros. (Reporting by Harry Papachristou)



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