Cimpor profits climb
Portuguese cement company Cimpor posted a Euro 78.8m consolidated net profit for the first quarter of 2006. Turnover rose to Euro 406m up 20.4 per cent. The company registered growth in all the countries where it operates, except Portugal. The increase was particularly significant in Egypt and Brazil, where it reached rates of 66 per cent and 42 per cent respectively, mainly due to the combined effect of the market growth, the local currency appreciation against the euro and the increase in cement prices, Cimpor noted.
Cement and clinker sales totalled some 5.1Mt, up 13.5 per cent, marking significant rises in Morocco, up 21.9 per cent, Brazil up 24.7 per cent and Egypt up 25.7 per cent.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 25.6 per cent to a total Euro 139m. The EBITDA margin rose to 34.2 per cent from 32.7 per cent.
Published under Cement News
