Adverse weather impacts Lafarge first-quarter results
LAFARGE Group have reported a 10% decrease in consolidated net sales to €3.27 billion in the first quarter of 2010, compared with the same period of 2009. Likewise, operating profit was down 30% to €236 million.
The French-based firm said the decline in sales in the quarter was caused primarily by the adverse weather conditions and lower economic activity in developed countries and Eastern Europe. But looking ahead, the company expects demand to pick up during the second half of the year with emerging markets showing strength overall.
Elsewhere, Lafarge will double their market position in the fast-growing Brazilian market following the divestment of shares in Cimpor (Portugal) in exchange for cement assets in the country, which is expected to be completed in the third quarter of 2010.
The company also maintains its previous estimate that cement volumes in the global market will increase 0–5% in 2010, compared with 2009.
The French-based firm said the decline in sales in the quarter was caused primarily by the adverse weather conditions and lower economic activity in developed countries and Eastern Europe. But looking ahead, the company expects demand to pick up during the second half of the year with emerging markets showing strength overall.
Elsewhere, Lafarge will double their market position in the fast-growing Brazilian market following the divestment of shares in Cimpor (Portugal) in exchange for cement assets in the country, which is expected to be completed in the third quarter of 2010.
The company also maintains its previous estimate that cement volumes in the global market will increase 0–5% in 2010, compared with 2009.
