Europe / Middle East / Africa
Lafarge Q1 sales and profits rise, debt shrinks
May, 04 2012
(France) -- Lafarge, the world's largest cement maker, on Friday said sales and operating profit rose in the first quarter, lifted by higher prices and cement volumes in emerging markets, while debt continued to shrink.
Earnings before interest, tax, depreciation and amortisation in the three months to March 31 rose 8 percent to 516 million euros ($678.67 million), while sales increased 5 percent to 3.35 billion, slightly beating an average of 3.34 billion from a Reuters poll of eight analysts.
But the net loss widened to 44 million euros from 29 million in the same quarter a year ago, hit by restructuring charges.
Net debt shrunk by 13 percent to 12.36 billion at the end of the quarter.
"Overall the group continues to see cement demand moving higher and maintains its estimated market growth of between 1 to 4 percent in 2012 versus 2011," Lafarge said in a statement.
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