Semapa 1H Net Profit EUR21M Vs EUR136M

Cement company Semapa  said its consolidated net profit was EUR21m in the first half of 2005, down from EUR136m in the same period the previous year. 
 
The drop in profit was related mainly to the comparison figure from 2004, which included one-time gains from large stake sales in units Secil and Cimpor, the company said. 
 
Sales, meanwhile, rose to EUR751m from EUR241m, powered mainly by the acquisition of a 37 per cent stake in pulpmaker Portucel, the company said.