The 2004 profit of Portuguese cement producer Cimpor grew by Euro 72m to a total Euro 262.5m due to the introduction and application of the international accounting standards IAS/IFRS, the company announced on May 23, 2005. Cimpor has earlier reported a net profit of Euro 190.4mn for its 2004 activities, according to the Portuguese official accounting standard, called POC.
The introduction of IAS/IFRS in Portugal in the beginning of 2005 also had a positive impact on the company’s 2004 revenue, which increased by Euro 10.2m while the company’s operating profit grew by close to Euro 74.2m. No comparative figures were available.
