Angolan market accounts for a third of profits for Portuguese builder Soares da Costa

9 April 2007

Lisbon, Portugal, 9 April – Angola was the biggest foreign market for Portuguese construction company Soares da Costa in 2006, accounting for 34.7 percent of its turnover, which was only beaten by Portugal which accounted for 38.2 percent.

According to a regulatory statement published in Lisbon, the Angolan market contributed to Soares da Costa’s net profits being 14 times higher than in 2005, having totaled 5.8 million euros.

The previous year, profit reached close to 500,000 euros.

The United States accounted for 23.7 percent of the group’s revenue. Mozambique accounted for 1.8 percent of Soares da Costa’s turnover.

The group’s non-audited accounts showed that its turnover increased slightly, 1.54 percent, to 562.3 euros.

In the period, Soares da Costa said, the group’s debt fell 14.5 percent to 167.7 million euros. (macauhub)