Cemex expects its third quarter sales growth to reach 29%

Cemex has said that it is expecting to record a 29% rise in third quarter sales (Q3) for 2007, compared to the same period last year, to reach US$6billion (€4.3billion). The company is due to announce the official figures later this month, but this forecast shows significant improvement on the 6% rise recorded in Q2.

The company has also said that it is likely to post a 22% increase in earnings before interest, tax, depreciation and amortisation (EBITA) to reach US$1.35billion (€974million) and a 16% rise in operating income to US$950million (€685million) for Q3. The results include the effect of consolidating Rinker into Cemex’s operations from 1 July.

According to a statement from Cemex chief financial officer Rodrigo Trevino, the company believes that it will continue to see underlying strength and favourable supply and demand dynamics in most of its markets. But he added that Cemex recognises that the correction and the timing for the eventual recovery of the residential sector in the US continues to be uncertain