Tuesday 30 October 2018

LafargeHolcim cuts earnings outlook

LafargeHolcim has warned of challenging market conditions and has revised down its guidance for 2018 earnings, citing cost inflation pressures. LafargeHolcim's CEO told journalists:
We have very steep cost inflation, one of the steepest I have seen for many years.
LafargeHolcim’s share price is down more than 25% compared with a year ago. This follows a profits warning from from HeidelbergCement and comes at a time when the cement industry is feeling the chill of climate change legislation.