Semapa 1Q net falls due to lack of one-time gain

Semapa 1Q net falls due to lack of one-time gain
Published: 01 May 2008

Portugal’s Semapa said net profit in the first quarter to March dropped to EUR24.4m from EUR47.2m, due to a lack of the one-time gain booked in the first-quarter of 2007.
 
In a statement, the industrial holding stock said that 2007’s results were boosted by a one-off gain of EUR25.6m in the first-quarter resulting from the sale of shares in EDP Energias de Portugal, SA.
 
Semapa said recurring EBITDA decreased three per cent to EUR94.7m.