Ciments Français net profit down in 2011

French building materials firm 1508 Ciments Francais (CF) says it will target industrial investments in India and Bulgaria in 2011 after seeing its net consolidated profit fall by 13.7% to €274.2million in 2011.

Company turnover compared to 2010 was also down 3.8% to €3.89billion. The drop was said to be mainly due to lower sales volumes in certain countries and an unfavourable exchange rate effect.

CF said the current year will also see the firm enter a "new expansion phase" in Morocco in the wake of the commissioning of the Ait Baha factory.

In 2011 the 726 Italcementi subsidiary's Ebitda was down 20.2% to €702.40million, compared to the previous 12 months. Sales of cement and clinker fell 1.4% to 42.4million tonnes. Cement sales rose in France, India, Morocco and North America, but fell in Egypt due to unrest in the country. Aggregate sales dropped 5.2% to 34.8million tonnes. Ready-to-use concrete sales rose 1.9% to 9.7million m3. In the fourth quarter of 2011, cement sales in volume dropped 1.7% to 10.2million tonnes. Ready-to-use concrete rose 0.1% to 2.3million m3, and aggregates rose 0.3% to 8million tonnes.