Cement supplier Lafarge has posted an 18.5 per cent profits rise as cost-cutting and acquisitions cushioned the blow of construction market gloom.

The company, which employs more than 100 people at its Cauldon Works plant in Waterhouses, admitted construction activity had slowed in the US and Europe.

But the Paris-based group generated a UK£1.26bn operating profit in the first half of 2008, up from UK£1.06bn in the first half of 2007.

Lafarge expects another increase by the end of 2008.
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