July 27, 2018 / 5:22 AM / 4 months ago

LafargeHolcim H1 profit drops 43 pct as restructuring charges bite

ZURICH, July 27 (Reuters) - LafargeHolcim reported a 43 percent drop in profit during the first half of 2018, as the world’s largest cement took 300 million Swiss francs ($301.81 million) in restructuring costs from its overhaul under Chief Executive Jan Jenisch.

The Zurich company said first-half net profit fell to 371 million Swiss francs, from 651 million francs a year earlier.

Sales rose 2.7 percent to 13.27 billion francs, while the company confirmed its target of increasing net sales by 3 to 5 percent every year, and lifting its core operating profit by at least 5 percent. ($1 = 0.9940 Swiss francs) (Reporting by John Revill, editing by John Miller)

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