Spain’s Cementos Portland’s profit drops

Spain’s Cementos Portland’s profit drops
Published: 11 November 2004

Spanish cement company Cementos Portland Valderrivas, a subsidiary of local construction and services group Fomento de Construcciones y Contratas (FCC), posted a net attributable profit of Euro 80.6m for the first nine months of 2004, a 30.2 per cent year-on-year decrease, the company said on November 10, 2004.  The decrease was mainly due to the lack of extraordinary revenue, while in the January to September 2003 period, the company posted one-time gains from the sale of a 21 pct stake in Spanish renewable energy company Energia Hidroelectrica de Navarra (EHN). The turnover of Cementos Portland increased 3.0 pct to Euro 672.6m. The company sold 7.7Mt of cement, concrete and clinker.