French cement maker Lafarge stuck to its cost savings and debt reduction targets on Wednesday, betting on continued growth in emerging markets, a recovery in
A strong euro and volatile currencies in emerging markets slashed nearly six percentage points off sales and profit growth last year, but the group said its geographic spread and solid underlying demand for cement, driven by urbanisation, would help counterbalance that impact this year.
Shares in Lafarge were 3.1 per cent higher at
Lafarge expects the cement market to expand between two and five per cent this year, led by four to seven per cent growth in
It said it planned to expand existing production capacity in sub-Saharan Africa, mainly
"Cement is a product of first necessity," chief executive
The group kept its dividend stable at
Net debt stood at
The group is in the process of selling non-core assets to focus on cement and concrete.
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