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.
Siam Cement, Thailand's largest industrial conglomerate, forecast on Wednesday that its fourth-quarter net profit would rise from the third quarter as petrochemical strength offsets weakness in construction materials.
Lafarge Africa's nine months 2014 consolidated results for its Nigerian and South African businesses show an after tax loss of 378.0% at 129.881 billion Nigerian naira compared with the same period in 2013. More