Holcim beats profit forecast in first results since North America spin-off
The Swiss cement and roofing products maker posted recurring operating profit of 955 million Swiss francs ($1.17 billion) for the three months to the end of June.
The figure was a 1.2% increase from the 944 million francs figure a year earlier, and beat consensus expectations for 929 million francs.
Sales fell 3.8% to 4.18 billion francs, slightly below forecasts for 4.19 billion francs.
The decline reflected the strengthening of the Swiss franc, which reduced the value of sales when translated from other currencies, as well as the divestment of Holcim's businesses in Kenya, Tanzania, Uganda and South Africa.
When measured in local currencies, net sales were 2.4% higher, while operating profit was 9.8% higher.
The figures were the first Holcim has published since it separated its North American business into a separate entity, called Amrize (AMRZ.S), opens new tab on June 23.
In its first guidance for 2025 as a standalone business, Holcim said it expected its increase its operating profit, when measured in local currency, by 6-10%.
It also guided for sales growth of 3-5% in local currencies.
($1 = 0.8131 Swiss francs)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
30 minutes ago
- Reuters
Italy competition authority fines China's Shein 1 million euros
ROME, Aug 4 (Reuters) - Italy's competition authority (AGCM) on Monday announced a 1-million-euro ($1.16 million) fine on Chinese fast fashion online retailer Shein for misleading customers on the environmental impact of its products. The fine was imposed on Infinite Styles Services CO. Limited, a Dublin-based company that operates Shein's website in Europe, at the end of a "greenwashing" investigation that Italian watchdog had opened in September. AGCM said the environmental sustainability and social responsibility claims promoted on Shein's website "were sometimes vague, generic, and/or overly emphatic, and in other cases omitted and misleading." The Italian authority said its assessment was influenced by an "increased duty of care" falling on Shein, "because it operates in (the) highly polluting sector and with highly polluting methods" of fast and super-fast fashion. Reuters has contacted the company for a comment. When the investigation was launched last year, the company said it was "ready to cooperate openly with relevant Italian authorities, providing the necessary support and information to address any inquiries". ($1 = 0.8642 euros)
Reuters
30 minutes ago
- Reuters
Turkey inflation falls to 33.52% in July, below forecast
ISTANBUL, Aug 4 (Reuters) - Turkish annual consumer price inflation dipped more than expected to 33.52% in July, opens new tab, official data showed on Monday, sustaining a downward trend despite strong rises in housing and education sector prices. Month-on-month, opens new tab, inflation was 2.06%, the Turkish Statistical Institute said, below forecasts. In June, CPI inflation was 1.37% monthly and 35.05% annually. In a Reuters poll, the monthly inflation rate was expected to be 2.4% in July, with the annual rate seen at 34.05%. On July 24, the central bank cut its policy rate by 300 basis points and relaunched an easing cycle, while saying that leading indicators suggest a temporary rise in monthly inflation in July due to month-specific factors. A mid-year hike in fuel and tobacco prices as well as a rise in natural gas prices had been expected to drive monthly inflation. Transport prices rose 2.89% month-on-month and alcoholic drinks and tobacco prices rose 5.69%. Housing prices were up 5.78%. The domestic producer price index rose 1.73% month-on-month in July for an annual rise of 24.19%, the data showed. Inflation is seen dropping to 29.75% at the end of this year according to the poll median, higher than the central bank forecast of 24%. Economy officials say they are confident that inflation to fall to between 24-29% central bank forecast range at the end of the year.
BBC News
30 minutes ago
- BBC News
Fernandes calls for more signings
Manchester United captain Bruno Fernandes has called on the club to sign more players to help improve fortunes at Old snubbed a huge offer to play in the Saudi Pro-League this summer and committed himself to dragging United out of the mess they landed in last club has already spent almost £130m this summer on forward players Matheus Cunha and Bryan Mbeumo, and also brought Paraguay Under-20 international Diego Leon to the Fernandes believes more is required."It was crystal clear we needed more competition for the players that were here and more quality to get everyone to step up to get into the starting XI," he told host broadcaster NBC after United won the Premier League Summer Series thanks to a 2-2 draw with Everton in Atlanta."That's what the club and the manager are trying to do and hopefully we can get one or two players more to help with that."In a separate interview with Manchester United's own media channel, chief executive Omar Berrada said the club was working "round the clock" to make the most of any opportunities that interest in RB Leipzig's Slovenia striker Benjamin Sesko remains high, which also means they would listen to offers for their Danish front-man Rasmus judging by their performance against Everton, central midfield should also be a international Manuel Ugarte was at fault for the first Everton goal and no matter what combination of players was paired up in the midfield positions, gaps appeared for David Moyes' side to addition to his comments on potential signings, Fernandes also demanded more from his current team-mates, saying their performance without the ball had been "lazy".He added it was not good enough in a period of time where 450 staff members had lost their jobs and ticket prices had risen sharply as part of a drive to cut costs and maximise revenues to plough back into the first team."I'm happy for the players to have that feeling," said Amorim. "It's saying they understand the situation. That is good."Get news notifications on your club
