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Holcim looks to emerging markets to support cement sales
November 7, 2012 / 6:15 AM / 5 years ago

Holcim looks to emerging markets to support cement sales

* Q3 net profit after minorities 394 mln Sfr vs 405 f‘cast

* Q3 operating EBITDA 1.214 bln Sfr vs 1.218 in poll

* Expects demand to rise in emerging markets

ZURICH, Nov 7 (Reuters) - Holcim is banking on rising demand for cement in emerging markets and North America to shield it from lower sales in Europe for the rest of 2012.

The world’s second-largest cement maker by sales said net profit after minorities rose 10.5 percent in the third quarter to 394 million Swiss francs ($417.51 million), falling slightly short of the average analyst forecast in a Reuters poll of 405 francs.

Like its rivals Lafarge and HeidelbergCement , Holcim has grappled with higher energy costs and sluggish European construction markets and is raising prices for its customers to meet its targets.

The cement maker set out a cost-cutting drive in May to boost profit by at least 1.5 billion Swiss francs by the end of 2014, with at least 150 million of that in 2012.

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