Barbosa e Almeida, of Portugal, announced in November 1995 its plans to increase its share capital from Esc 3,000 million to Esc 6,000 million with a reserves capitalisation.
According to Maria Ines …
Barbosa e Almeida, of Portugal, announced in November 1995 its plans to increase its share capital from Esc 3,000 million to Esc 6,000 million with a reserves capitalisation. According to Maria Ines Ferreira, director, the capital increase is related to Barbosa e Almeida“s merger with CIVE, bought in 1993 from IPE. The absorption of CIVE was announced at the end of October 1995, a year earlier than planned. After the merger, Barbosa e Almeida now has factories in Avintes, Vila Nova da Gaia, and another in Marinha Grande. It was also announced that Barbosa e Almeida could close 1995 with net consolidated results of Esc 760 million, more than three times the amount Esc 241 million seen in 1994. The company“s plant saw consolidated results of Esc 605 million in the first half of 1995, up on the Esc 94 million seen in the same period in 1994. The operational results were up 237%. Consolidated cashflow was up about 50% at Esc 1,889 million. Consolidated sales were up 15% at Esc 9,433 million. CIVE“s sales rose 19% in value and 11% by weight. Increased demand led to the improved results for both CIVE and Barbosa e Almeida. The glass market staged a recovery in the period and CIVE made its first profits since 1991. Barbosa e Almeida saw sales of Esc 4,500 million in the first half of 1995, up 12% in value and 6% by weight. Some production was lost, however, because of a fire in the company“s plant on 26 February 1995.