Lafarge third-quarter profit slips

Lafarge third-quarter profit slips
Published: 05 November 2010

Lafarge SA on Friday reported its third-quarter net profit slipped eight per cent amid a sluggish recovery in developed markets.

Lafarge said net profit in the three months ended Sept. 30 fell to €372m from €404m in the same period a year earlier. Sales rose 6% to €4.5bn from €4.25bn a year earlier as the company consolidated new assets in Brazil.

The company said that based on demand trends seen through the third quarter, it has maintained its overall growth estimates in its markets and expects cement market demand to be between -1 to +3 per cent in 2010 as compared to 2009. Due to supply-demand evolution, volume trends for the Group may vary from local market trends in some countries.

"Moving forward, we will continue to implement our strict financial discipline and expect to benefit from solid volume growth in emerging markets," the group’s Chairman and Chief Executive Bruno Lafont said in a statement.