Portugal's Semapa records fall in profit in January-September

Portugal-based Semapa recorded a 17.7 percent fall in net profit to EUR 65.9 million in January-September 2015 as compared to EUR 80 million in the same period of 2014, reports Jornal de Negocios. Thedecline in net profit was due to higher taxes in the first nine months of 2015.

Meanwhile, the company's consolidated turnover increased by 74.5 percent to EUR 1.57 billion in January- September 2015. The increased turnover in the cement segment was due to growth of turnover in operations in Portugal and Angola. In the first nine months of 2015, Semapa recorded a 21 percent increase in consolidated EBDITA to EUR 361.1 million.