Lafarge holds steady

High inflation and slow recovery in mature markets has prevented Lafarge growing is sales in the second quarter of the year. The company has reported revenues of €4.4billion, which are stable compared to the same period last year. The company also reported a drop in operating income of 16% to €702million.
March 27, 2012 Read time: 1 min

High inflation and slow recovery in mature markets has prevented 725 Lafarge growing is sales in the second quarter of the year. The company has reported revenues of €4.4billion, which are stable compared to the same period last year. The company also reported a drop in operating income of 16% to €702million.

Lafarge CEO and chairman Bruno Lafont said, “While I am encouraged by the return to cement volume growth for the last several quarters, the impact of high inflation and a slow recovery of mature markets weighed on the cement sector. The Group is focused on its priorities, including price actions in response to a high cost environment and strategic moves with its asset portfolio, to support profitability and reduce debt by at least €2billion this year. The business will continue to benefit from volume growth thanks to our continued development in emerging markets.”

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