Mon, Feb. 23, 7:47 AM
- Holcim (OTCPK:HCMLY) reported 2014 profits slightly above forecast after exceeding its cost-cutting target and said its merger with France's Lafarge (OTCPK:LFRGY) was on track to complete in the first half of the year.
- Net sales fell 3% to 19.1B francs ($20.2B) due to negative currency impacts, but gained 3% on a like-for-like basis.
- Adjusted operating profit increased 5% in 2014, or 10% on a like-for-like basis, to 2.47B francs, while net profit attributable to shareholders rose 1% to 1.29B, beating expectations.
LFRGY vs. ETF Alternatives
Lafarge is a holding company. Through its subsidiaries, Co. is engaged in the manufacturing of construction materials. Co. operates through four business divisions: The Cement division; The Aggregates & Concrete Division; The Roofing division; and The Gypsum division.
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