Mixed results from Italcementi Group

The Italian 726 Italcementi Group’s results for the six months to 30 June, 2012, show mixed results across its operations with revenue and earnings both down as was the group's net profit.

The group's consolidated revenue for the first six months of 2012 was €2.29 billion compared to €2.42 billion in the same period in 2011.

Recurring earnings before EBIDTA (earnings before interest, tax, depreciation and amortization) were €328.7 million compared to €371.7 million in the first half of 2011.

The group’s total profit for the period was €800,000, compared to €187.8 million in the first half of 2011, a drastic drop said to be due to the absence of a receipt from the sale of an operation in Turkey conducted in the first half of 2011.

Italcementi says that the effects of efficiency measures, together with a positive dynamic in prices on a number of markets should enable it, in the absence of currently unforeseen events, to reach full-year operating margins broadly in line with those of 2011.