Lafarge 1Q Net Profit Up 35 Percent


16 May 2008


KUALA LUMPUR: Cement maker Lafarge Malayan Cement Bhd's net income for its first quarter ended March 31, 2008 (1QFY08) rose 35.3% to RM62.18 million from RM45.96 million a year earlier mainly due to contributions from higher domestic sales but partly offset by higher cost of fuel and raw materials.


The firm's revenue rose 10.1% to RM559.61 million from RM508.28 million due to higher domestic demand for cement. Earnings per share rose to 7.3 sen from 3.2 sen.


Moving forward, Lafarge said the impact of rising cost of fuel and raw materials would be more significant in the next three quarters compared with the current quarter which was mitigated by the availability of lower cost coal inventory and contracts.


"The results of 2008 will depend on the cement price increase and the proposed implementation of the APM," it said.


Meanwhile, Isidoro Miranda Fernandez was redesignated to vice-chairman from non-executive director yesterday. Guillaume Andre Philippe Roux.