Lafarge has reported sales in the first three months of the year were down 10% on the same period last year at €3.2billion. Nonetheless, the company has said that the results for the first quarter traditionally reflect the seasonality and are not indicative of the full year. The company also pointed out that earnings from aggregates and concrete stabilised during the period, offsetting declines int eh cement and gypsum divisions.
Lafarge has reported sales in the first three months of the year were down 10% on the same period last year at €3.2billion. Nonetheless, the company has said that the results for the first quarter traditionally reflect the seasonality and are not indicative of the full year.
The company also pointed out that earnings from aggregates and concrete stabilised during the period, offsetting declines int eh cement and gypsum divisions.
Overall, the Group maintains its previous estimate that cement volumes in its markets will increase between 0 and 5% in 2010 as compared to 2009. “We expect demand to start to recover in developed countries during the second half of the year with emerging markets showing strength overall,” said Lafarge in a statement. “Pricing is expected to remain solid for the year, despite lower prices in a certain number of markets. Overall energy costs are forecasted to be stable on a full year basis.”
