Italcementi reports slowdown in sales

05 August 2008

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.”

The full year outlook for the group remains more positive, with the slowdown in the second half of 2008 predicted to be significantly smaller than that which affected the first six months.

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Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]