Spanish Cementos Portland

Spanish Cementos Portland
Published: 27 February 2004

Cementos Portland, a subsidiary of Spanish construction and services company Fomento de Construcciones y Contratas, posted a net attributable profit of 148.5 mln euro in 2003, a 30.5 per cent year-on-year increase, the company said on February 26, 2004.  Turnover stood at 865.6 mln euro, an increase of 4.1 per cent. Sales on the domestic market generated 76 per cent of turnover. Cementos Portland also reported extraordinary revenue from the sales of its 21 per cent stake in Spanish renewable energy company Energia Hidroelectrica de Navarra (EHN) in June 2003 and the 49 per cent stake in the local power company Sofoensa.  Cementos Portland sold 10Mt of cement and clinker, a 4.5 per cent year-on-year increase, 5.1 million cu m of concrete, up 6.1 per cent.