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Cement maker Holcim reports 5.6 percent drop in 4Q net profit

Cement maker Holcim reports 5.6 percent drop in 4Q net profit

Cement maker Holcim Ltd. said Wednesday that its fourth-quarter net profit dropped 5.6 percent, but full-year profits were helped by the sale of its South African business.
Net profit in the three months to December dropped to 565 million Swiss francs (US$528 million; euro355 million), from 599 million francs in the same period last year.
Sales reached 6.77 billion francs (US$6.33 billion; euro4.26 billion), up 4.8 percent from 6.46 billion in 2006.
Holcim said annual earnings reached 3.87 billion francs, boosted by the sale last year of assets in South Africa for about 1.26 billion francs (US$1.18 billion; euro790 million).
Shares in Holcim were down 2.25 percent at 108.70 francs (US$101.70; euro68.37) on the Zurich exchange.