By: Financial Mirror
The Board of Directors of Vassiliko Cement Works Public Co Ltd (VCW) approved the final audited financial results for the year ended 2008, with net profit at EUR5.7mln compared to EUR16.9mln in 2007. The reduced profitability is mainly attributed to increased energy costs and operating inefficiencies following the consolidation with
CCC. Upon approval of the final FY08 results the Board decided to propose to the AGM of the shareholders the payment of a final dividend of EUR0.015 per share, which in addition to the interim dividend of EUR0.02 paid in December 2008 takes the total to 3.5 cent.