Lafarge UK reports 11% fall in revenues
The slowdown in the UK housing market is continuing to effect construction products firms with Lafarge UK being the latest victim, as its parent group interim report shows an 11% fall in revenues.
During the first half of this year revenues from Lafarge’s UK operations covering gypsum, cement, concrete and aggregates fell £64million (€81million) compared with the same period in 2007, to £514million (€653million).
The results compare with the other Lafarge Group Western European operations in France and Spain that experienced growth of £55million (€70million) and £12million (€15million) respectively over the same period.
The United States was the only other operation to experience losses with revenues falling from £1,031million (€1,309million) to £780.5million (€991million) over the period. Across all operations revenues were up £539million (€684million) to £7,141million (€9,069million).
The company said in a statement: “We maintain our positive market outlook for the full year, with continued growth in emerging markets and a stronger than expected volume slowdown in some developed markets (United States, Spain, UK)".
During the first half of this year revenues from Lafarge’s UK operations covering gypsum, cement, concrete and aggregates fell £64million (€81million) compared with the same period in 2007, to £514million (€653million).
The results compare with the other Lafarge Group Western European operations in France and Spain that experienced growth of £55million (€70million) and £12million (€15million) respectively over the same period.
The United States was the only other operation to experience losses with revenues falling from £1,031million (€1,309million) to £780.5million (€991million) over the period. Across all operations revenues were up £539million (€684million) to £7,141million (€9,069million).
The company said in a statement: “We maintain our positive market outlook for the full year, with continued growth in emerging markets and a stronger than expected volume slowdown in some developed markets (United States, Spain, UK)".
