Portugal Cimpor 2003 Net Profit

Portuguese cement group Cimpor - Cimentos de Portugal SGPS, reported a 5.3 per cent year-on-year rise in 2003 net profit to Euro 185.9m, the company announced on March 5, 2004.  The company’s turnover totalled Euro 1.361bn, up 3.3 per cent. On the other hand, operating cash flow and operating profit increased slightly, up 0.2 per cent and up 1.8 per cent, respectively. The return on equity (ROE) increased to 19.5 per cent from the previous 17.3 per cent.

The company’s performance in Spain, South Africa, Morocco and Mozambique registered a growth, with the last two countries seeing the highest growth rates, up 9.0 per cent and 17 per cent, respectively. The remaining countries where Cimpor has been present registered a decline in terms of cement consumption, with Portugal and Brazil marking the biggest drop, down 17 per cent and down 11 per cent.