Ciments Francais to pay extra div, Q1 net drops

Ciments Francais to pay extra div, Q1 net drops
06 May 2009

Ciments Francais will pay a one-off dividend of four euros (US$5.36) a share if the planned takeover by majority shareholder Italcementi SpA goes through, Ciments Francais said on Tuesday.

The French cement company also reported first-quarter results that showed a 42 per cent fall in net profit, to EUR54m ($72 million). It forecast its second-quarter result would be in line with that of the first.

The drop in net profit stemmed from a drop in volumes and restructuring costs, Ciments Francais said in a statement.

Its revenue fell 6.2 per cent to EUR1.026bn. Recurring EBITDA fell 18.1 per cent to EUR190m.

Italcementi, the world’s fifth-largest cement maker by production capacity, releases its results on Wednesday.

The Italian firm said in February it would buy out the 18 percent of Ciments Francais it does not already own.
Published under Cement News