Cemex seen posting first quarter loss

Cemex seen posting first quarter loss
26 April 2010

Cemex is expected to post a US$140m net loss for the first quarter after a harsh winter in the United States and Europe and few signs of a recovery in global construction, according to a Reuters poll of six analysts.

Cemex reported a profit of US$3m for the same period a year ago.

This weak earnings report is being largely factored in by the market," BBVA Bancomer said in a report to clients, adding that Cemex) warned last month it could post a loss for the first quarter.

Cemex said in January that the company should start to see an improvement in its sales volumes later this year but that its recovery could be slow.

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