ZURICH: LafargeHolcim said it saw a recovery in construction markets in June after the coronavirus pandemic battered its sales and profit during the second quarter.
The world’s biggest cement maker said its sales fell 24% to 5.4 billion Swiss francs (US$5.92bil), beating the 4.93 billion francs expected by analysts in a company-gathered consensus. Like-for-like sales, which cut out the impact of currency changes and divestments, were 17% lower.
Recurring operating profit shrank 32% to 932 million francs, beating the 725 million francs consensus. LafargeHolcim had earlier this year ditched its full year guidance. — Reuters
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