LafargeHolcim : First-Half Net Income Slumped

By Martin Mou

LafargeHolcim Ltd. said Thursday that its net income for the first half of the year fell 66% compared with the same period a year earlier but it expects a solid performance in the second half as demand recovers.

Net income fell to 347 million Swiss francs ($380.2 million), the Swiss cement maker said. The decline was partly due to a fall in sales.

Its first-half recurring earnings before interest and taxes fell to CHF1.19 billion from CHF1.67 billion a year earlier, the company said.

Net sales for the first half fell 18% to CHF10.69 billion and in the second quarter they slid 24% to CHF5.40 billion, LafargeHolcim said.

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