Portland Valderrivas boosts earnings
Cementos Portland Valderrivas, the cement subsidiary of Spanish construction group FCC, posted a net profit of Euro 137.1m last year, up 7.8 per cent, on ebitda (gross operating earnings) of Euro 312.3m, up 15.8 per cent, and sales of Euro 978.4m, 10.3 per cent higher. The rise in ebitda was a consequence of an improved operating margin. Turnover growth, meanwhile, was a result of increased business in Spain, where sales were up 12.1 per cent, and the US, where growth stood at 2.7 per cent. Portland Valderrivas’ debts shrank by 9.1 per cent to Euro 132.4m during the year. Published under Cement News
