Cimpor 2009 net profit up 8 pct, beats fcast
LISBON, March 3 |
LISBON, March 3 (Reuters) - Portuguese cement maker Cimpor (CPR.LS) on Wednesday posted an 8 percent rise in 2009 net profit helped by higher sales in emerging economies like Egypt, South Africa and Brazil.
Portugal's largest cement maker -- which was the target of a recent takeover battle in which Brazilian companies Camargo Correa and Votorantim bought large minority stakes in Cimpor -- said net profit rose to 237 million euros ($323.4 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 3.3 percent to nearly 606 million euros, the company added.
Analysts surveyed by Reuters had forecast, on average, a 2009 net profit of 232 million euros, EBITDA of 608 million euros and revenues of 2.1 billion euros. (Reporting by Andrei Khalip)
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