Holcim posts 67.3pc net profit rise in Q1
AFP, Zurich
Switzerland's Holcim, one of the world's largest cement groups, on Monday announced a 67.3 percent increase in its first quarter net profit despite a sluggish winter in the European construction sector. Net profit reached 169 million Swiss francs (109 million euros, 141 million dollars), while net operating profit rose 9.6 percent to 411 million Swiss francs, Holcim said in a statement. Sales were down 1.1 percent at 2.73 billion Swiss francs. Holcim, which has business in 70 countries, said its sales were dampened by increases in energy and transport costs and the continued weakness of the dollar. The figures were also hit by persistent winter weather in Europe, the company said. "Construction activity virtually ground to a halt for several weeks not only in the north of the continent, but also in Italy, Croatia and in large parts of southeastern Europe," it noted.
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