Lafarge reports fourth quarter loss

Lafarge reports fourth quarter loss
19 February 2010

Lafarge reported a loss in the fourth quarter as construction in Europe and the U.S. struggled to recover, and predicted a rebound in its markets this year.

The net loss was EUR38m (US$51.1m), compared with net income of EUR40m a year earlier, the company said in a statement today.

Full year 2009 sales were down 17% to €15,884m (-14% on a like-for-like) while current operating income was down 30% to €2,477m.  Net income Group share declined by 54% to €736m while net debt reduced by €3,089m from year-end.

“Entering 2010, we anticipate overall cement demand will increase in Lafarge’s markets,” Chief Executive Officer Bruno Lafont said in the release. The company will focus on growth in emerging markets, and Lafarge aims to “benefit from the economic recovery and return to earnings growth.” Published under Cement News