Lafarge announce 6% rise in Q3 sales
LAFARGE have reported a 6% increase in consolidated net sales to €4.45 billion in the third quarter of 2010, compared with the same period of 2009. However, operating income was down 2% due to inflation of input costs and the impact of lower volumes, partially offset by cost cutting and favourable foreign exchange rates.
Aggregates and concrete sales moved up 7% in the quarter, thanks to volume growth for aggregate products and slower rates of volume decline in the ready-mixed concrete business. As a result of the performance, aggregates and concrete operating profit increased 21% in the third quarter.
Despite a 6% fall in cement sales in the same period, the company maintains its overall growth estimate that cement market demand to be between –1 and +3% in 2010, compared with 2009.
Bruno Lafont, chairman and CEO of Lafarge, commented: ‘Our overall performance held up well in the quarter thanks to the company’s balanced high-quality portfolio and the operational efforts in all our business units. This occurred despite the absence of a significant recovery in developed markets.
‘Moving forward, we will continue to implement our strict financial discipline and expect to benefit from solid volume growth in emerging markets.’
Aggregates and concrete sales moved up 7% in the quarter, thanks to volume growth for aggregate products and slower rates of volume decline in the ready-mixed concrete business. As a result of the performance, aggregates and concrete operating profit increased 21% in the third quarter.
Despite a 6% fall in cement sales in the same period, the company maintains its overall growth estimate that cement market demand to be between –1 and +3% in 2010, compared with 2009.
Bruno Lafont, chairman and CEO of Lafarge, commented: ‘Our overall performance held up well in the quarter thanks to the company’s balanced high-quality portfolio and the operational efforts in all our business units. This occurred despite the absence of a significant recovery in developed markets.
‘Moving forward, we will continue to implement our strict financial discipline and expect to benefit from solid volume growth in emerging markets.’
