LafargeHolcim's net profit doubles in H1 2019

LafargeHolcim more than doubled net profit during the first half of 2019, the world's largest cement maker said on Wednesday, and confirmed its full-year outlook. The Swiss company increased its first half earnings before interest, tax, depreciation, and amortisation by 11% on a like-for-like basis to 2.66 billion Swiss francs ($2.69 billion). During the second quarter, this figure rose 7.1% to 1.85 billion francs, slightly better than the 1.83 billion expected by analysts. First-half net profit more than doubled to 780 million francs from 371 million francs a year earlier. LafargeHolcim spent 229 million francs less on restructuring costs as the company completed its costs savings programme, while net financial expenses were also lower as it refinanced and reduced its debt.