Cimpor FY04 net profits unchanged

Cimpor FY04 net profits unchanged
Published: 18 March 2005

Cement company Cimentos de Portugal SA said Thursday that despite flat sales and higher costs it posted consolidated net profits of EUR189.5m in 2004, the same as its profits for 2003.  Cimpor said sales were up 0.3 per cent at EUR1.37bn from EUR1.36bn, while costs rose seven per cent to EUR906.9m.  Cimpor said sales were particularly strong at its Spanish, Egyptian and South African operations.  In Portugal and Brazil sales were lower. The domestic decline was driven by a weaker economic backdrop, while in Brazil sales were hit by falling prices, higher energy costs and higher transport costs.