Italcementi reports slowdown in sales

Italcementi recorded first half sales of € 2,8 billion, down -4,5% on the corresponding period of 2007. The downturn in sales reflected heavily in the group’s net profit, which fell to € 221 million, a -29,3% drop on the same period one year ago.

Responding to “the slowdown in construction in almost all developed countries, due in part to the impact of the international financial crisis and rising energy costs,” the board of directors reacted to the first half results by confirming that, “Italcementi would introduce efficiency drives and distribution rationalisation programmes (particularly in Italy) and pursue acquisitions in countries with high growth potential.”