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| Lafarge reports operating results French cement maker Lafarge cut its dividend and unveiled a EUR1.5 billion rights issue after it reported a 16% percent drop in full-year net profit due to disposals and a writedown. In a statement, Lafarge said it expects cement volumes to be flat to down 3% in 2009, putting pressure on margins although "pricing should remain firm overall." The company said net profit fell to EUR1.6 billion from EUR1.91 billion due to disposals and a EUR250 million goodwill write-down. Lafarge said its adjusted profit, which excludes certain items, increased 3% to EUR1.71 billion, from EUR1.66 billion in 2007. The operating profit in 2008 amounted to EUR3.54 billion compared to EUR3.24 billion a year earlier while the operating margin improved slightly to 18.6% from 18.4% in 2007. write your comments about the article :: © 2009 Construction News :: home page |