Portugal: In 2011 Cimentos de Portugal (Cimpor), Portugal's largest cement group, posted a net profit of Euro198.1m, down 18% year-on-year but turnover rose by 1.6% to Euro2.3bn.
The group, which is currently more than 50%-owned by Brazilian groups Camargo Corrêa and Votorantim, saw its interests in Mozambique, China, Brazil and Turkey bolster its results for the year. In Mozambique Cimpor's turnover rose by 30% to Euro114.6m and in China it was by over 20% to Euro127.6m, according to the group's chairman Francisco Lacerda.
The group's turnover also rose by 13% to Euro689m in Brazil while Portugal (-13.7%), Spain (-8.3%) and Egypt (-27%) were markets in which the group's turnover decreased."Because of its economic vigour and the size of the group's presence in that market, Brazil continued to be the main growth driver in Cimpor's portfolio," said Lacerda.
