Angola remains main foreign market for Portuguese construction Soares da Costa in 2010

6 April 2011

Lisbon, Portugal, 6 April – In 2010 Angola remained the main foreign market for Portuguese construction company Soares da Costa and turnover increased 5.5 percent, the company said Monday in Lisbon when it published its accounts for 2010.

In a year in which the group saw its profit rise 35.9 percent year on year to 15.6 million euros, Mozambique was the second foreign market and turnover posted growth there of 74.5 percent, followed by the United States, which posted growth of 28 percent.

Meanwhile, the company plans this year to enter the construction market in Brazil, by acquiring a minority stake in a company, whilst still looking for business in North Africa and the Middle East.

Chief executive Pedro Gonçalves said that in order to counterbalance the expected downturn in construction in the Portuguese market, the company would continue to focus on its internationalisation process. International business is expected to account for 60 percent of turnover in 2011, as compared to 57 percent in 2010.

Soares da Costa this year expects to reach turnover of around 1 billion euro, against 893.5 million euros in 2010. (macauhub)