Semapa reports decline in Angola sales
Sales of cement in Angola by Portuguese group Semapa fell 42.8 per cent in value in 2009 to EUR27.8m. The company has attributed the decline to: “a fall in consumption of cement of around 20 per cent and strong competition from cement imported from China at low cost".
Semapa reported turnover of EUR535.8m in 2010, which is a drop of 6.4 per cent compared to 2009, mainly due to a reduced performance of its Portuguese and Angolan operations where EBITDA was down 19.8 per cent and 90 per cent respectively.
Published under Cement News
