The consolidated net profit of Portuguese construction and cement group Semapa increased by 53 per cent YoY to EUR97.3m ($141.61m) in the period January to September 2007.
The paper and pulp production activities of the group contributed with EUR74.7m to the result, while the cement production was responsible for EUR25.2m.
The group’s total turnover went up by eight per cent, while EBITDA increased by 14 per cent to EUR321.1m.
In the area of paper and pulp production, Portucel Soporcel, which is controlled by Semapa, sold 767,200t of paper, corresponding to a rise of 4.5 per cent. The average paper sale price inched up by 5.4 per cent. The production of pulp, on the other hand, declined by 0.5 per cent to 972,300t.
In the segment of cement production, sales grew by 17 per cent to EUR213.7m.
Semapa expects its earnings results for full 2007 to suffer from the negative impact of the possible rising interest rates and the probable further depreciation of the U.S. dollar against the euro.