Cementos Portland sees improvements in Spain, Tunisia and USA

Cementos Portland Valderrivas' turnover fell by 3.8 per cent to EUR259.9m in the six months to the end of June, reflecting the effects of non-profitable concrete, aggregate and mortar businesses in Spain being closed.

Cement voulmes rose by more than five percent last year, of which international markets account for 63 per cent of sales, most notably in Tunisia and the US.

While demand in the company's domestic market of Spain continues to decline, the group said results have improved "substantially" mainly due to the efficiency plan set out in 2013. The Spanish market is expected to decline between -2.7 and -0.7 per cent in 2014 before improving by about 3-8 per cent next year.

The Tunisian construciton market is enjoying robust growth and stability, according to Cementos Portland. The country is alsobenefitting from the deregulation of cement industry prices, according to the company.

Operations in the US were significantly affected by severe winter weather conditions in the north where two of Cementos Portland's three domestic plants are located. However, the company highlights a clear reversal in this trend over the June and July period, with volumes growing over the same period of last year.