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Friday, November 06, 2009
Lafarge Quarterly Net Income Drops 38%
By Sarah Turner
MarketWatch Pulse
LONDON -- French building materials firm Lafarge said Friday that its third-quarter net income fell 38% to 404 million euros, from 647 million euros last year. Revenue declined 20% to 4.3 billion euros, hit by lower volumes and foreign exchange moves. Stil, the firm said that lower debt and resilient operating margins were achieved through strong cash generation and significant cost savings. "These efforts will continue," it added.
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