Cementos Portland 1H09 profit dips

Cementos Portland 1H09 profit dips
Published: 28 July 2009

The net profit of Spanish cement producer Cementos Portland Valderrivas fell by 69.7% on the year to EUR 20.6m (US$29.3m) in the first half of 2009, the company said today.
 
The decline was due to a sharp fall in the construction business in the USA and Spain, the company told Spanish stock market regulator CNMV.
 
The revenue in turn went down by 30% to EUR 537m for January to June, while the earnings before interest, tax, depreciation and amortisation (EBITDA) dipped by 35.2% to EUR150m.
 
Only in Spain, the company made EUR389.6m in revenue, down 36.7% YoY.