Profit at Corticeira Amorim rises 3.9 percent to 15.7 million euros in 2005

13 March 2006

Porto, Portugal, 13 March – Profit at Corticeira Amorim increased 3.9 percent year on year in 2005 to 15.7 million euros, driven by solid sales in the fourth quarter, the company said Friday.

In a regulatory filing, the Amorim group company posted consolidated sales of 428 million euros in 2005, a 0.3 percent increase on the previous year.

According to the statement, the company’s sales in the second and fourth quarter were “quite satisfactory” and made it possible to “totally recover from slowed activity in the first quarter.”

The recovery in sales was particularly felt in the company’s cork stopper unit, which accounts for around 50 percent of its business and which posted total sales for the year of 239.7 million euros, a 4.1 percent increase on 2004.

Corticeira Amorim is present in many regions and countries, including China. (macauhub)