Ciments Francais reports drop in profit
Ciments Francais saw its operating profit slump by 21.5 per cent to EUR200m in the third quarter, while the net profit (group share) fell by 12.6 per cent to EUR109m. The company has seen a surge in energy and raw material costs, while exchange rates have been unfavourable.
The group’s turnover for the quarter rose by 2.6 per cent to EUR1.2bn, despite a drop in sales volumes. The decline in business has accelerated in developed countries over the last few months, while growth in most emerging countries has slowed down. Ciments Francais expects its operating profit for the full year to fall in comparison with 2007. Published under Cement News
