China, Turkey and Brazil contribute to good results for Portuguese cement company Cimpor

12 May 2011

Lisbon, Portugal, 12 May – China, Turkey and Brazil were the main drivers of growth in turnover for Portuguese cement group Cimpor in the first quarter of the year. Turnover in the period rose 14.3 percent to 547.7 million euros said the group’s chief executive, Francisco Lacerda.

The group posted a real rise of 68.3 million euros in turnover in the first three months of this year, as compared to the first quarter of 2010, and the Chinese, Turkish and Brazilian markets contributed 67.6 million to the total.

The strong performance of the international markets was reflected in the 27.1 percent rise in profit, which in the first quarter totalled 57.9 million euros.

In China Cimpor posted turnover of 27.3 million euros between January and March, which was a rise of 125.4 percent on the 12.1 million euros posted in the same three months of 2010.

By weight, sales by the Portuguese cement company in China rose by 45 percent, from 557,000 to 808,000 tons in the period.

The group, whose operation in China began in 2007, now has only three other markets in which it sells more cement than in China by quantity: Brazil (1.329 million tons), Portugal (934,000 tons) and Egypt (982,000 tons). (macauhub)