More record profits for cement maker Holcim

The world's second-largest cement maker, Holcim, posted a 84 per cent rise in net profits last year to SFr3.9 billion ($3.6 billion).

This content was published on February 27, 2008 - 10:35

The Swiss-based company said the Asia-Pacific region had performed strongly with operating results in the area boosted by the first full-year consolidation of India's Ambuja Cement.

Holcim, which sold its subsidiary in South Africa in 2007, said it was confident about meeting its long-term growth target of five per cent thanks to demand in the growth markets of Asia, Latin America and eastern Europe.

The company, which sells cement and asphalt as well as ready-mixed concrete, added it was well positioned to stave off a slowdown in the United States.

Earlier this month, Holcim's French rival Lafarge announced a 39 per cent rise in annual profits.

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