Cementir FY net rises 23.1 per cent

Cementir FY net rises 23.1 per cent
Published: 14 March 2008

Cementir SpA said full-year net profit rose 23.1 per cent to EUR140.4m thanks to measures to increase the efficiency of its plants and that it will pay a dividend of EUR0.12/share, up 20 per cent from a year earlier.

Looking ahead, the company said it is difficult to make forecasts given current economic uncertainty but added it will increase its cement production capacity in emerging countries by 10 per cent

Cementir said revenues rose 9.4 per cent to EUR1.152bn and EBITDA rose 10.8 per cent to EUR274m, confirming preliminary figures released on Feb 11.

Net debt fell to EUR364.8m at the end of 2007 from EUR437.5m at the end of 2006, beating the company’s own target.