Semapa Q1 net surges 155 pct due to 25.6 mln eur one-time gain UPDATE |
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Fri, 25 May 2007 17:30
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(updates with company comment, net debt, mentions Sibline stake hike)LISBON (Thomson Financial) - Semapa SGPS said net profit surged 155 pct to 47.2 mln eur in the first quarter to March from 18.5 mln eur a year earlier, boosted by a 25.6 mln eur capital gain on the sale of 19.2 mln shares in EDP Energias de Portugal.In a statement, Semapa said it does not expect the results of the following quarters to show such extraordinary growth.Recurring EBITDA, excluding the one-time gain, increased 11 pct to 97.7 mln eur, while sales increased 8 pct to 342.4 mln, boosted by the full consolidation of Ciment de Sibline for the first time.Semapa increased its stake in Sibline to 50.5 pct through the acquisition of 21.8 pct of its share capital in January.Net debt declined 119.5 mln eur in the first quarter from the end of 2006 to 899 mln eur.jonathan.gleave@thomson.comjg/rfw/jsaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Semapa Q1 net surges 155 pct to 47.2 mln eur due to 25.6 mln eur one-time gain 