French Ciments Francais H1 2006 Net Profit Up 46.2 Pct Y/Y

French cement maker Ciments Français SA published on September 6, 2006 a net attributable profit of 248.9 mln euro (US$320.4 mln) for the first half of 2006, up 46.2 per cent on the year.  

Consolidated net profit came in at 301.6 mln euro (US$388.3 mln) versus 187 mln euro (US$240.7 mln). Operating profit went up by 64.2 pct to 451.4 mln euro (US$581.1 mln), while gross profit rose by 52.9 pct to 605.2 mln euro (US$779.1 mln). The revenue totalled 2.2 bln euro (US$2.8 bln), up 28.8 per cent.  

Ciments Français has invested a total 315 mln euro (US$405 mln) in the reporting period with industrial investments made mainly in the EU and North America. The company allotted spent 178.8 mln euro ($230.2 mln) on financial operations, including for the acquisition of 100 pct in Indian chemical fertiliser maker Zuari Industries Ltd and a stake in Turkish sector company Goltas Cimento.  

Net cash flow amounted to 191.1 mln euro (US$246 mln), up from 66 mln euro (US$85 mln).  

The company attributed the strong rise in its net financial debt to 1.84 bln euro (US$2.4 bln) by June 30, 2006 from 294.8 mln euro (US$379.5 mln) by December 31, 2005 to the investments made, as well as to dividends paid out.  

Shareholders’ equity was 3.24 bln euro (US$4.17 bln), while the gearing ratio was 56.8 per cent, versus 47.9 per cent on December 31, 2005.  

(Note: Unless otherwise stated, all figures/comparisons are for H1 2006/H1 2005.)