Profit at Portugal’s Cimpor rises 12.6 pct in first half to 135.5 million euros

29 August 2006

Lisbon, Portugal, 29 Aug – Net Profit at Portuguese cement company Cimpor rose 12.6 percent year on year in the first half of 2006 to 135.5 million euros, failing to meet market expectations, the company said.

The growth was due to the “clearly positive (with two-digit growth)” of all business areas, with the exception of Portugal, the company said in a statement.

“In Portugal, the fall in the internal market led to a decrease of almost 21 million euros, which reduced its relative weighting in the group to less than 30 percent.”

Revenue increased 11.2 percent, to 824.4 million euros, whilst EBITDA (earnings before interest, tax, depreciation and amortization) improved by 16.5 percent, to 279.4 million.

Cimpor said that operations in Mozambique, Egypt and Spain were a highlight due to the growth of their respective EBITDA margins, in contrast to what occurred in Brazil, where a significant fall in prices led to a decrease in margins of four percentage points. (macauhub)