HeidelbergCement Q3 net profit up, beats forecast

HeidelbergCement Q3 net profit up, beats forecast
Published: 08 November 2005

HeidelbergCement reported a 60 per cent rise in third-quarter net profit on Tuesday, boosted by a pick-up in its key North American and Indonesian markets. 
HeidelbergCement said net profit in the three months to the end of September was EUR274m ($324 million). The company, which also controls Indonesia’s second-biggest cement maker, Indocement , said it expected a moderate rise in sales volumes and turnover for 2005. 
HeidelbergCement also expected a significant increase in operating profit for the full year.
Third-quarter operating profit climbed to EUR453m from EUR344m as turnover rose 14 per cent to EUR2.25bn. 
Chief Executive Bernd Scheifele had said operating profit growth of 20 per cent in the first half would be maintained and turnover would grow between 5 and 7.5 per cent.