Edition 1450
18 November 2017
Edition: 1450

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Cork company Corticeira Amorim’s profits up

by TPN/ Lusa, in Business · 18-05-2017 16:00:00 · 0 Comments

Portuguese cork company, Corticeira Amorim, posted profits of €17.2 million, up 23.7 percent on year, the company said on Monday.

In a market filing, Corticeira Amorim said the result was due to “a notable rise in sales, which grew to 171.7 million, which is a 9.6 percent increase against the same period of last year,” which it said was due to Portugal having two more working days between January and March 2017, compared to the same quarter of 2016.
The group, based in the northern city of Santa Maria da Feira, said that all the business units recorded a rise in sales, as well as benefiting from a positive exchange rate.
EBITDA (earnings before interest, depreciation and amortisation) rose 21.6 percent to €33.6 million in the reporting period, the company said. 

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Edition 1450
18 November 2017
Edition: 1450

Read this week's issue online exactly as it appears in print.

Twitter

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