Lafarge second quarter results take Euro200m Greek hit

摘要

Lafarge has reported that its net profit fell in the first half of 2012 due to troubles in its European markets, mainly in central and eastern Europe, where the construction industry slumped. Lafarge recorded an impairment of Euro200m on its Greek assets alone. The French cement group's net income fell from Euro260m in the first half of 2011 to Euro13m in 2012, a drop of 95%, as a result. Sales rose by 5% to Euro7.61 bn and earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 8% to Euro1.52bn, boosted by increases in emerging markets. In addition to the impairment on Greek assets, Lafarge also recorded a Euro148m charge related to company restructuring in the first half of 2012.