Ciments Français 'results dip' forecast

Ciments Français (Italcementi) has revealed that it will implement savings as it expects its 2011 results to drop compared to 2010.
March 7, 2012 Read time: 1 min

Ciments Français (726 Italcementi) has revealed that it will implement savings as it expects its 2011 results to drop compared to 2010.

This is based on the results of the first nine months, when the consolidated turnover fell 3.8% to €2.94billion and the gross operating profit fell 15.6% to €563.10million.

In the third-quarter, sales fell for all three of its markets, prefab concrete, aggregates and cement/clinker, because of difficulties in Egypt and economic problems in developed markets. Turnover was down 7.9% and gross operating profit fell 21.3%.

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Ciments Français forecasts fall

France-based Italcementi subsidiary Ciments Français has said that it expects a further drop in EBITDA in the last quarter of this year to be in line with the decline seen in the first nine months of the year. Revenues in the first nine months were down 1.3% on the same period in 2009 at €3.2billion. The two main business segments dropped by 1.9% including cement with sales of €2.20billion, while the contribution of aggregates and ready mixed concrete was down to €835.8million.

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