Lafarge’s Moroccan subsidiary, Lafarge Ciments, saw turnover in 1H14 slip by 2.1 per cent to MAD2.56bn (US$298m) as  prices and a favourable product mix only partially offset by 3.6 per cent a 4.4 per cent decline in sales. Consolidated net income was down 5.1 per cent to MAD725m.

For the second part of the year, cement demand is expected to remain weak and Lafarge is forecast to see its turnover down 1.5 per cent.

Advertisement