Home » Business » Real Estate
Cement maker posts 35% profit fall
Source: Agencies |
August 21, 2009, Friday
|
Print Edition
Print Edition
SWISS cement maker Holcim AG yesterday reported a 35 percent drop in second-quarter net profit but said there were signs the economic downturn that has hurt the construction industry was slowing in some markets, including the United States.
Holcim said net profits attributable to shareholders were 453 million Swiss francs (US$425 million), compared with 696 million francs in the same quarter last year.
Sales fell 20 percent to 5.56 billion francs from 6.93 billion francs.
After a harsh European winter, construction in the region during the second quarter remained depressed by a lack of investment activity, the company said. Sales in Europe dropped 28 percent to 2.09 billion francs.
"In the US, the deep recession continued to shape events in all markets, although the downturn became less severe in the second quarter," Holcim said.
Holcim said net profits attributable to shareholders were 453 million Swiss francs (US$425 million), compared with 696 million francs in the same quarter last year.
Sales fell 20 percent to 5.56 billion francs from 6.93 billion francs.
After a harsh European winter, construction in the region during the second quarter remained depressed by a lack of investment activity, the company said. Sales in Europe dropped 28 percent to 2.09 billion francs.
"In the US, the deep recession continued to shape events in all markets, although the downturn became less severe in the second quarter," Holcim said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
