Portugal’s Semapa said net profit in the first quarter to March dropped to EUR24.4m from EUR47.2m, due to a lack of the one-time gain booked in the first-quarter of 2007.
In a statement, the industrial holding stock said that 2007’s results were boosted by a one-off gain of EUR25.6m in the first-quarter resulting from the sale of shares in EDP Energias de Portugal, SA.
Semapa said recurring EBITDA decreased three per cent to EUR94.7m.
