Lafarge Ciments posted lower first-half profit and sales, as power and materials costs rose and economic slowdown hit demand for cement.
Casablanca-based Lafarge Ciments, a listed subsidiary of Lafarge and Moroccan partner SNI, made a net profit of MOD953m (US$114m), down from MOD980m, on revenue down one per cent at MOD2.789bn.
Analysts said the company and its rivals Holcim Maroc and Ciments du Maroc were grappling with a stagnant market since last year after years of growth fed by infrastructure upgrades, low-income housing projects and a tourism boom.
