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

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

LafargeHolcim first-half profit drops 43 percent as restructuring charges bite
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Arnd Wiegmann(Reuters)
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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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