Portuguese conglomerate Semapa said on Friday its first-quarter net profit rose 155 per cent to EUR47.2m on the back of the sale of its stake in  Energias de Portugal (EDP).

Revenues increased eight per cent to EUR342.4m and EBITDA jumped 41 per cent to EUR123.5m.  
 
Semapa, which controls pulp and paper company Portucel and cement unit Secil, said it had generated a capital gain of about EUR25.6m from the sale of shares in Portuguese power group EDP . 
 
"We don’t expect results in the coming quarters to reach the magnitude registered in this period," the company said in a statement.  
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