Italcementi 3Q profit drops 30% to EUR66m

Italcementi 3Q profit drops 30% to EUR66m
Published: 07 November 2008

Italcementi SpA said third-quarter profit fell 30 per cent on the depreciation of its stake in Calcestruzzi SpA.

Net income fell to EUR65.9m from EUR106.8m in the third quarter of 2007, Rome-based Italcementi said in a stock-exchange statement today. Sales slipped three per cent EUR1.49bn.

Italcementi said full-year results will probably fall in line with results from the first nine months.

Source: Bloomberg