24 February 2007
PARIS: Lafarge posted yesterday a 25% rise in 2006 net profit and said it would exceed its target to increase annual earnings per share by 10% on average.
"Favourable trends continued in the fourth quarter, and our results should continue to improve in 2007," chief executive Bruno Lafont said. "We should exceed the objectives we announced in June 2006 of an average annual increase in earnings per share of 10% between 2005 and 2008."
The group generated a net income of 1.37 billion euros (US$1.8bil), up from 1.1 billion in 2005, while current operating profit rose 23% to 2.77 billion.
The 2005 current operating profit figure was adjusted to reflect the deconsolidation of its roofing unit, which Lafarge agreed to sell to PAI Partners in December. - Reuters