Hanson profit dips on weak dollar, housing market

Hanson profit dips on weak dollar, housing market
Published: 01 August 2007

Hanson Plc, which is being taken over by HeidelbergCement reported lower half-year profit on Wednesday, hit by weaker US dollar and residential demand.  
 
Hanson, the world’s biggest aggregates specialist, posted UK£181.8m (US$369.4m) in first-half pretax profit, down from UK£193.6m a year ago. 
 
"We expect continued weakness in the U.S. residential market and adverse foreign exchange to impact the second half of the year, with trading in divisions elsewhere remaining robust," it said in a statement.  
 
On Tuesday Hanson shareholders approved an UK£8bn (US$16.21bn) deal to be acquired by  HeidelbergCement.