Cementos Molins 1H profit falls 58%

Cementos Molins closed the first half-year with a profit of EUR8.3m, 58 per cent down on 1H12. The decline has been attributed to the poor performance of the Spanish subsidiaries, which recorded a EUR22.4m loss. The company’s overseas divisions returned a profit of EUR30.7m.

The group's total turnover decreased by 8.6 per cent from the 1H12 and reached EUR416m. In Spain, the turnover decreased by 14 per cent. Abroad sales fell seven per cent due to lower contributions from Mexico and Cementos Molins because weight has reduced its shareholding in Uruguay’s Cementos Artigas.