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LafargeHolcim first-quarter profit, sales fall as coronavirus hits construction

The company's new logo is pictured at the headquarters of LafargeHolcim in Zurich, Switzerland, July 15, 2015. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - LafargeHolcim reported a drop in sales and profit during its first quarter on Thursday as the coronavirus pandemic closed building sites around the world.

The world’s biggest cement maker said its sales fell 11.2% to 5.29 billion Swiss francs ($5.42 billion), from 5.96 billion francs a year earlier. The figure slightly beat analyst forecasts for 5.25 billion francs in a company-gathered consensus.

Recurring operating profit also fell, down 14.1% to 262 million francs, beating forecasts for 215 million francs.

Reporting by John Revill