Portugal's Cimpor 1Q net falls to EUR45.6M

Portuguese cement producer Cimentos de Portugal SA (CPR.LB) said early Tuesday its first-quarter net profit dropped 11% on the year, as construction markets in Portugal and particularly in Spain continued to lag.

Cimpor, as the company is also known, said its net profit was EUR45.6 million in the first three months of the year, compared to EUR51.2 million a year earlier.

Revenue fell nearly 1%, to EUR479.4 million, while earnings before interest, taxes, depreciation and amortization, or Ebitda, dipped close to 9% to EUR123.5 million.

Besides Spain and Portugal, Cimpor has operations in Africa, Asia and Brazil.

From China Cement (2010-5-11)