Europe / Middle East / Africa
Holcim dividend cut after Q4 loss
Mar, 01 2012
(Zurich, Switzerland) -- Holcim, the world's second-largest cement maker, slashed its dividend by a third after it posted a net loss in the fourth quarter due to slumping demand for construction materials and restructuring at a South African business.
The Swiss cement maker reported a fourth-quarter net loss of 438 million Swiss francs (US$488mil), largely due to an already announced 775 million Swiss franc charge. Analysts polled by Reuters had expected a net loss of 521 million francs.
Nigeria's Dangote Cement reported first quarter pretax profit up 32% to $354 million compared with the same period of last year. More
Lafarge maintained its 2015 forecast for global cement demand growth and said its cost-saving target for the year was on track as it delivered first-quarter results.?? More