Cementos Molins 1Q11 net profit slumps 47% YoY

Cementos Molins 1Q11 net profit slumps 47% YoY
Published: 04 May 2011

Spanish cement company Cementos Molins posted a consolidated net profit of EUR7m for the first quarter of 2011, down 47% YoY.

The turnover, however, rose by 6.2% to EUR197m in the same period, Cementos Molins said in a filing with the national stock market regulator CNMV.

The company explained that the 20.3% increase in its international operations compensated the 18.9% fall registered on the domestic market.

EBITDA totalled EUR41m between January and March 2011, a YoY decline of 6.9%.