The group’s chairman and chief executive Bruno Lafont said the business in emerging markets like India, Africa and China was still providing an annual growth of 3-15%. This is in contrast to the slump in western markets, where Lafarge’s business is down 10-20%.
The group now wants to take advantage of the growth in housebuilding, infrastructure and industry in developing economies.
It plans to generate 65% of its operating profits from emerging markets this year, compared with 55% for the previous one and 45% for 2007. The target will be met through the consolidation of Middle Eastern cement producer Orascom Cement, which Lafarge bought in 2007.
