Holcim Liban posts steep fall in 1H profit

Cement producer Holcim Liban posted an unaudited net profit of US$2m in the first half of 2015, down 78.3 per cent from net earnings of US$9.4m in the same period of 2014.

The firm’s sales totaled US$66.7m in the first half, a decline of 28.5 per cent from US$93.2m in the same period of 2014. Gross profit margin reached 28 per cent in the first half of 2015 relative to 30.7 per cent in the same period of 2014.

Holcim’s assets totaled US$275.1m at the end of June 2015, representing a decrease of three percent from US$283.7m at end-2014, while its shareholders’ equity was US$227.2m at end-June 2015 relative to US$225.2m at the end of last year, as reported by Lebanon This Week, the economic publication of Byblos Bank.