Italcementi records profits drop

Italy-based 726 Italcementi has reported that slow markets in Spain, Italy and Bulgaria have contributed to a 4.7% decline in sales to €3.6billion for the first nine months of the year. The company has said that there was a positive trend in its business in China, Thailand and Kazakhstan but this failed to offset the declines elsewhere. Net profits at the company are also down 39.7% from the same period in 2009 at €133million.