Portugal: Portugal's conglomerate Semapa, which owns cement maker Secil and pulp and paper producer Portucel, has posted a 23% fall in its 2014 net profit due to tax adjustments and a financial loss. Semapa's net profit fell to Euro113m in 2014. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 2.6% year-on-year to Euro410m. Total sales rose by 1.5% to nearly Euro2bn, with cement sales up by 5%.
Semapa's 2014 profit fell by 23%
Written by Global Cement staff
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