LafargeHolcim first-half profit drops 43 percent as restructuring charges bite

FILE PHOTO: The logo of LafargeHolcim, the world's largest cement maker, is seen at its headquarters in Zurich, Switzerland March 2, 2017. REUTERS/Arnd Wiegmann/File Photo - Copyright Arnd Wiegmann(Reuters)

By Reuters

Published on 27/07/2018 - 09:35•Updated 16/04/2024 - 21:58

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ZURICH (Reuters) - LafargeHolcim <LHN.S> reported a 43 percent drop in profit during the first half of 2018, as the world's largest cement took 300 million Swiss francs (£230 million) in restructuring costs from its overhaul under Chief Executive Jan Jenisch.

The Zurich company said first-half net profit fell to 371 million Swiss francs, from 651 million francs a year earlier.

Sales rose 2.7 percent to 13.27 billion francs, while the company confirmed its target of increasing net sales by 3 to 5 percent every year, and lifting its core operating profit by at least 5 percent.

(Reporting by John Revill, editing by John Miller)

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