Spanish Cementos Lemona profit down

Spanish cement producer Cementos Lemona posted a Euro 9.11m consolidated attributable net profit for the first nine months of 2004, down 35 per cent year-on-year, the company reported to the Spanish stock market regulator CNMV on October 29, 2004.

The turnover of the company for January to September 2004 fell by 5.4 per cent year-on-year to Euro72.22m. The consolidated pre-tax profit of the company fell to Euro9.6m for the first nine months of 2004 from Euro17.1m for the same period of 2003.

Cementos Lemona’s sales on the domestic market for the first nine months of 2004 decreased by 11 per cent year-on-year to 513,361t. The decrease in figures was explained by the fact that Cementos Lemona’s plants in the state of Maine, northeastern USA, and Lemoa, Vizcaya province, Basque region, stayed closed for repairs during the period. The company spent a total Euro 63m on improvement works in the factories.