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Cimpor back in the black

Page created: Friday, 27 February 2015 14:35 GMT

Thematic
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4Q 2014  Cimpor   Results

The Portuguese cement maker Cimpor reported a return to profits in 2014 with its €29.6 million gain contrasting with a €15.3 million loss in 2013, the company reported Friday.

In a statement sent to the CMVM stock market regulatory authority, Cimpor, a subsidiary of the Brazilian InterCement conglomerate, stated that the 2014 profit “reflects an improvement in both financial results and taxation.”

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The company turned over €2.603 billion last year, down 0.8% year-on-year even while Cimpor said that when stripping out exchange rate related issues, the company had seen turnover advance 13% over the course of 2014.

The statement also reported that investment had dropped 40.3% to close 2014 at €204.3 million whilst in operational terms, sales of cement and similar rose 5.7% to 30 million tons whilst concrete dipped 6.1% to 4.5 million tons.

Cimpor also flagged how its market position had been strengthened “in Brazil, with new operational capacity in Paraguay and a growing contribution from operations in Africa optimised by Cimpor’s trading position strengthens its role among the international players.”

The statement also informed that despite the €868,000 profit made in Portugal, there would be no share dividend for 2014 as such would have “no relevant impact” and would be “counterproductive to some small investors given the charges in effect on the respective dividend distributions.”

RRA/KAR //KAR