Portuguese construction company Lucios expects turnover to triple in Mozambique

27 May 2014

Portuguese construction company Lucios expects turnover to triple in Mozambique this year to between US$20 million and US$25 million, chief executive Filipe Azevedo said in a statement.

The chief executive also said that Lucios’ operations in Mozambique, a market in which it ahs been present since 2011, in the next four or five years will be bigger than the Portuguese market for the company.

“In 2014 we expect turnover of between 54 and 55 million euros in Portugal, thus ensuring we meet our target of an average of around 50 million euros. In Mozambique we believe we will end the year with between US$20 million and US$25 million, as a result of new projects that we have underway in Maputo and other regions,” said Azevedo in the statement.

Cited by the Portuguese press, the company’s CEO said that building restoration – a segment that accounts for 60 percent of Lucios’ business in Portugal – was expected to see significant growth over the next few years bolstered by a legal framework that is intended to reduce costs. (macauhub/MZ)

MACAUHUB FRENCH