Portuguese cement company Cimpor posts turnover of 148.8 million in Brazil in first half

27 August 2007

Lisbon, Portugal, 27 Aug – Portuguese cement company Cimpor posted turnover in Brazil of 148.8 million euros in the first half of 2007, which was a year on year rise of 13.4 percent, the company said Friday in Lisbon.

With this performance, the Brazilian market maintained the weighting it already had of 15.9 percent in the group’s total turnover of 934 million euros between January and June.

Brazil continued to be the third most important market for Cimpor after Spain, which is now worth more than Portugal, with turnover of 240.1 million euros and 236.2 million euros, respectively.

In the statement issued on the consolidated results for the first half of 2007 the company said that “with the acquisition (…) at the end of June [as yet with no impact on the group’s results] of a majority stake in New Liuyuan (China), the net assets of the Cimpor group rose to over 4.4 billion euros.”

In the period, Cimpor’s net profit, after minority interests, totaled 131.7 million euros, a fall of 2.8 percent year on year. (macauhub)