Cementir two years ahead of business plan

Italian cement and concrete group Cementir yesterday announced pre-tax profits of 168.9m euros for 2006, an increase of 47 per cent on the previous year. Turnover climbed 23 per cent to 1.05bn euros, the gross operating margin was 34 per cent higher at 247.4m euros, and operating profits leapt 52 per cent to 180.9m euros. 

These figures reportedly mean that the company has achieved its 2006-2008 business plan objectives two years ahead of schedule, with chairman Francesco Caltagirone explaining that foreign acquisitions had been integrated quicker than had been expected. Indeed, revenue growth was particularly strong in Asia (+54 per cent) and North and Central America (+45 per cent).