Cimpor 1H net profit improves

Cimpor 1H net profit improves
Published: 29 August 2006

Cimpor says improved turnover boosted net income by 14.7 per cent to Euro 142.7m in the first half of 2006 from Euro124.4m in the same period last year.  Sales rose 11.2 per cent to Euro 824.4m from Euro741.1m. In the second quarter alone sales hit Euro 418.5m, a record high and up 11 per cent from the second quarter of 2005.  Operating costs rose 8.7 per cent to Euro 545.0m. 
 
Cimpor units in some countries, with the exception of Portugal, showed double-digit sales growth. Egypt and South Africa performed particularly well, with sales up 40.7 per cent and 31.4 per cent, respectively, aided by a good market performance, currency appreciation and an increase in cement prices, Cimpor said in a statement.  In Portugal sales fell 7.9 per cent in the first half from the the same period last year amid a weaker economic backdrop.