Martifer suffers 12% share loss over results
Shares from the Portuguese metallic construction group Martifer have plunged 12% after disappointing profits.
The group, based in Oliveira de Frades, is under strong stock market pressure after suffering a 94% fall in profits for the first half of 2018.
Each share quoted on the PSI-20 is now worth 51 cents. Between January and June the company saw its profits plunge 94% on the same half in 2017 with its net results worth just €400,000.
However, since the end of last month the price per share has gained considerably and on Thursday shares made a 10% gain.
Martifer has seen an accumulated increase in the value of its shares by 57% since the start of the year while in August was above average because Carlos Martins, the Chairman of Martifer sold 100,000 shares in the 10 August trading session. On that day the company’s liquidity achieved a peak of 634,000 shares changing hands on the stock market.
Martifer Metallic Constructions is a globally recognised player in the metallic construction sector.
It carries out projects in the Metal Mechanical Construction, Aluminium and Glass, Infrastructures for Oil & Gas and Naval Industry segments.
With a diversified portfolio, it looks to find the best engineering solution for each project, so as to allow for the optimisation of resources and consequent reduction of costs and the compliance of deadlines.
Mainly aimed at leading highly complex projects, Martifer Metallic Constructions bases its development strategy on differentiation through quality engineering.