Lafarge holds steady
First publishedon www.AggBusiness.com
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.
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.”