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.

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%.